LongView Wealth Management Has $2.56 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

LongView Wealth Management boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 11.0% in the third quarter, HoldingsChannel reports. The firm owned 21,066 shares of the computer hardware maker’s stock after buying an additional 2,082 shares during the period. LongView Wealth Management’s holdings in NVIDIA were worth $2,558,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $146.27 on Thursday. The company’s 50 day moving average is $128.59 and its 200-day moving average is $119.33. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.59 trillion, a P/E ratio of 68.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

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. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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 paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.48.

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.