Long Island Wealth Management Inc. Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Long Island Wealth Management Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,243.2% during the second quarter, HoldingsChannel reports. The fund owned 4,070 shares of the computer hardware maker’s stock after acquiring an additional 3,767 shares during the quarter. Long Island Wealth Management Inc.’s holdings in NVIDIA were worth $503,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other 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 value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. 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 is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,516,270 shares of company stock valued at $291,803,127 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.4 %

NVDA opened at $139.34 on Thursday. The company has a market cap of $3.42 trillion, a PE ratio of 65.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The company has a 50-day moving average price of $124.95 and a 200 day moving average price of $115.35. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. Sell-side analysts expect 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 program 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Wedbush reissued an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Wells Fargo & Company boosted 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. Finally, UBS Group restated a “buy” rating and issued a $150.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Five research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA 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.