RS Crum Inc. Purchases 11,717 Shares of NVIDIA Co. (NASDAQ:NVDA)

RS Crum Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,159.0% in the second quarter, HoldingsChannel reports. The firm owned 12,728 shares of the computer hardware maker’s stock after acquiring an additional 11,717 shares during the period. NVIDIA accounts for about 0.4% of RS Crum Inc.’s holdings, making the stock its 28th biggest position. RS Crum Inc.’s holdings in NVIDIA were worth $1,572,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC raised its stake in NVIDIA by 909.7% in the second quarter. Scarborough Advisors LLC now owns 20,720 shares of the computer hardware maker’s stock valued at $2,560,000 after buying an additional 18,668 shares during the period. Valley Wealth Managers Inc. increased its stake in shares of NVIDIA by 982.0% during the second quarter. Valley Wealth Managers Inc. now owns 18,967 shares of the computer hardware maker’s stock worth $2,343,000 after purchasing an additional 17,214 shares during the period. Federated Hermes Inc. increased its stake in NVIDIA by 892.1% during the 2nd quarter. Federated Hermes Inc. now owns 6,598,436 shares of the computer hardware maker’s stock worth $815,171,000 after acquiring an additional 5,933,352 shares during the period. Pinkerton Retirement Specialists LLC increased its stake in NVIDIA by 716.0% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 7,556 shares of the computer hardware maker’s stock worth $933,000 after acquiring an additional 6,630 shares during the period. Finally, WPWealth LLP increased its stake in NVIDIA by 935.9% during the 2nd quarter. WPWealth LLP now owns 9,023 shares of the computer hardware maker’s stock worth $1,115,000 after acquiring an additional 8,152 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Bank of America reaffirmed a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. Robert W. Baird raised their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Finally, Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.46.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $119.06, for a total value of $14,287,200.00. Following the completion of the transaction, the chief executive officer now owns 78,414,995 shares of the company’s stock, valued at $9,336,089,304.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,116,270 shares of company stock worth $362,016,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $135.72 on Thursday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company’s 50 day moving average is $120.58 and its 200 day moving average is $111.69. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.34 trillion, a PE ratio of 79.37, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About NVIDIA

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.