CoreCap Advisors LLC Acquires Shares of 290,030 NVIDIA Co. (NASDAQ:NVDA)

CoreCap Advisors LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 290,030 shares of the computer hardware maker’s stock, valued at approximately $36,254,000. NVIDIA makes up 3.8% of CoreCap Advisors LLC’s investment portfolio, making the stock its 4th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Truepoint Inc. boosted its position in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the last quarter. Consolidated Planning Corp lifted its stake in shares of NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after purchasing an additional 75,046 shares during the period. International Private Wealth Advisors LLC lifted its stake in shares of NVIDIA by 1,452.1% in the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares during the period. Lafayette Investments Inc. raised its stake in NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after buying an additional 5,140 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd raised its stake in NVIDIA by 51.4% during the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after buying an additional 141,930 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,116,270 shares of company stock valued at $362,016,327. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Up 3.1 %

Shares of NVIDIA stock opened at $135.72 on Thursday. The company has a market cap of $3.34 trillion, a P/E ratio of 79.37, a PEG ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $120.58 and its 200-day moving average price is $111.69.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVDA. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp lifted their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Westpark Capital lifted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.46.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.