NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Circle Wealth Management LLC

Circle Wealth Management LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,281.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,175 shares of the computer hardware maker’s stock after purchasing an additional 77,156 shares during the quarter. NVIDIA comprises approximately 0.2% of Circle Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Circle Wealth Management LLC’s holdings in NVIDIA were worth $10,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NVDA. Kowal Investment Group LLC increased its position in shares of NVIDIA by 961.9% during the second quarter. Kowal Investment Group LLC now owns 73,071 shares of the computer hardware maker’s stock worth $9,027,000 after acquiring an additional 66,190 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of NVIDIA by 1,050.0% in the 2nd quarter. Hancock Whitney Corp now owns 616,147 shares of the computer hardware maker’s stock valued at $76,119,000 after buying an additional 562,568 shares during the period. Merriman Wealth Management LLC raised its position in shares of NVIDIA by 807.3% during the 2nd quarter. Merriman Wealth Management LLC now owns 82,692 shares of the computer hardware maker’s stock worth $10,216,000 after purchasing an additional 73,578 shares during the period. Connecticut Wealth Management LLC lifted its stake in NVIDIA by 910.9% in the second quarter. Connecticut Wealth Management LLC now owns 94,547 shares of the computer hardware maker’s stock valued at $11,680,000 after buying an additional 85,194 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in NVIDIA by 631.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517,410 shares of the computer hardware maker’s stock valued at $187,461,000 after purchasing an additional 1,310,087 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s 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 sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVDA stock opened at $141.54 on Friday. The business has a 50 day simple moving average of $123.91 and a 200-day simple moving average of $113.68. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The company has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVDA shares. Needham & Company LLC upped their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective 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. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.