Peloton Wealth Strategists Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Peloton Wealth Strategists raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 885.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,550 shares of the computer hardware maker’s stock after buying an additional 4,987 shares during the period. Peloton Wealth Strategists’ holdings in NVIDIA were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners boosted its position in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the company’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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVDA shares. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. The Goldman Sachs Group upped their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. Five 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. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Price Performance

NVIDIA stock opened at $141.25 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50 day simple moving average of $124.74 and a 200-day simple moving average of $115.18. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The stock has a market capitalization of $3.46 trillion, a PE ratio of 66.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67.

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

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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.