NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Axiom Advisory LLC

Axiom Advisory LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6,600.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,781,144 shares of the computer hardware maker’s stock after buying an additional 1,754,562 shares during the period. NVIDIA accounts for approximately 1.9% of Axiom Advisory LLC’s holdings, making the stock its 13th largest holding. Axiom Advisory LLC’s holdings in NVIDIA were worth $207,035,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NVDA. Privium Fund Management UK Ltd acquired a new stake in shares of NVIDIA in the first quarter valued at $2,635,000. First Trust Direct Indexing L.P. increased its stake in NVIDIA by 20.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 62,865 shares of the computer hardware maker’s stock worth $56,802,000 after buying an additional 10,478 shares during the period. Accel Wealth Management lifted its holdings in NVIDIA by 16.8% during the 1st quarter. Accel Wealth Management now owns 2,776 shares of the computer hardware maker’s stock worth $2,508,000 after buying an additional 399 shares in the last quarter. RBA Wealth Management LLC purchased a new position in NVIDIA in the 1st quarter valued at approximately $293,000. Finally, Core Wealth Partners LLC grew its stake in shares of NVIDIA by 1.1% in the first quarter. Core Wealth Partners LLC now owns 1,906 shares of the computer hardware maker’s stock worth $1,722,000 after acquiring an additional 21 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the business’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 completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Finally, The Goldman Sachs Group lifted their price target 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. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

Shares of NVDA stock opened at $147.63 on Friday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The stock has a market cap of $3.62 trillion, a PE ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. The stock has a fifty day moving average price of $127.27 and a 200 day moving average price of $117.94. 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 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 firm 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%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. Sell-side analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share buyback 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given 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 payout ratio is 1.88%.

NVIDIA Company 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.