Resolute Advisors LLC Has $3.24 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Resolute Advisors LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,250 shares of the computer hardware maker’s stock after buying an additional 23,625 shares during the quarter. NVIDIA makes up 0.8% of Resolute Advisors LLC’s portfolio, making the stock its 11th largest position. Resolute Advisors LLC’s holdings in NVIDIA were worth $3,243,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NVDA. Allen Investment Management LLC raised its position in NVIDIA by 799.3% in the 2nd quarter. Allen Investment Management LLC now owns 591,019 shares of the computer hardware maker’s stock worth $73,014,000 after purchasing an additional 525,301 shares during the last quarter. Krane Funds Advisors LLC raised its position in shares of NVIDIA by 812.6% during the second quarter. Krane Funds Advisors LLC now owns 15,030 shares of the computer hardware maker’s stock worth $1,857,000 after acquiring an additional 13,383 shares during the last quarter. JBF Capital Inc. lifted its stake in shares of NVIDIA by 1,017.6% during the second quarter. JBF Capital Inc. now owns 38,000 shares of the computer hardware maker’s stock valued at $4,695,000 after acquiring an additional 34,600 shares during the period. Wealthspire Advisors LLC boosted its holdings in NVIDIA by 1,068.2% in the second quarter. Wealthspire Advisors LLC now owns 123,587 shares of the computer hardware maker’s stock valued at $15,268,000 after acquiring an additional 113,008 shares during the last quarter. Finally, Vima LLC increased its position in NVIDIA by 288.3% in the second quarter. Vima LLC now owns 21,755 shares of the computer hardware maker’s stock worth $2,688,000 after purchasing an additional 16,153 shares during the period. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’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 value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock valued at $347,729,127 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Sanford C. Bernstein increased their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Five equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Stock Up 0.9 %

NVIDIA stock opened at $136.93 on Friday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The firm has a market capitalization of $3.37 trillion, a PE ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. The company’s 50-day moving average is $121.22 and its 200-day moving average is $111.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

NVIDIA Company 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.