Capital Wealth Planning LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Capital Wealth Planning LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 865.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,987 shares of the computer hardware maker’s stock after acquiring an additional 9,849 shares during the period. Capital Wealth Planning LLC’s holdings in NVIDIA were worth $1,357,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the last quarter. Consolidated Planning Corp raised its holdings in NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after acquiring an additional 75,046 shares during the last quarter. International Private Wealth Advisors LLC raised its holdings in 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 worth $928,000 after acquiring an additional 7,028 shares during the last quarter. Lafayette Investments Inc. raised its holdings in NVIDIA by 901.8% in the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after acquiring an additional 5,140 shares during the last quarter. Finally, AMJ Financial Wealth Management raised its holdings in NVIDIA by 898.7% in the 2nd quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock worth $7,326,000 after acquiring an additional 53,362 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NVDA shares. Wells Fargo & Company lifted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares in the company, valued at approximately $9,569,997,238.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares in the company, valued at approximately $9,569,997,238.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Up 0.8 %

Shares of NVDA stock opened at $138.00 on Friday. The stock has a market cap of $3.39 trillion, a P/E ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89. 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 company’s fifty day simple moving average is $121.88 and its two-hundred day simple moving average is $112.35.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for 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 quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 1.88%.

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