NVIDIA Co. (NASDAQ:NVDA) Position Boosted by Sargent Investment Group LLC

Sargent Investment Group LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,206.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,705 shares of the computer hardware maker’s stock after buying an additional 36,666 shares during the quarter. NVIDIA accounts for about 1.0% of Sargent Investment Group LLC’s holdings, making the stock its 25th biggest holding. Sargent Investment Group LLC’s holdings in NVIDIA were worth $4,905,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $138.00 on Monday. The stock has a market capitalization of $3.39 trillion, a P/E ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The business’s fifty day moving average is $121.88 and its two-hundred day moving average is $112.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the sale, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the sale, the chief executive officer now directly owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,876,270 shares of company stock valued at $333,061,527 in the last three months. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on NVDA shares. Needham & Company LLC raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Truist Financial raised their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Raymond James raised their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.07.

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.