NVIDIA Co. (NASDAQ:NVDA) is Catalina Capital Group LLC’s 4th Largest Position

Catalina Capital Group LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,002.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,618 shares of the computer hardware maker’s stock after purchasing an additional 86,033 shares during the quarter. NVIDIA comprises about 4.4% of Catalina Capital Group LLC’s investment portfolio, making the stock its 4th largest position. Catalina Capital Group LLC’s holdings in NVIDIA were worth $11,689,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Aveo Capital Partners LLC increased its position in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC increased its position in NVIDIA by 60.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after acquiring an additional 5,496 shares during the last quarter. RMR Wealth Builders raised its stake in shares of NVIDIA by 2.4% in the fourth quarter. RMR Wealth Builders now owns 25,381 shares of the computer hardware maker’s stock valued at $12,569,000 after acquiring an additional 591 shares during the period. Meridian Wealth Advisors LLC grew its holdings in NVIDIA by 0.4% during the 4th quarter. Meridian Wealth Advisors LLC now owns 5,714 shares of the computer hardware maker’s stock valued at $2,830,000 after purchasing an additional 22 shares during the last quarter. Finally, Valtinson Bruner Financial Planning LLC purchased a new stake in NVIDIA in the 4th quarter worth about $316,000. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Melius Research raised their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Evercore ISI raised their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup upped their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Bank of America reaffirmed a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research note on Thursday, September 5th. Finally, Oppenheimer restated an “outperform” rating and set a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Up 1.9 %

Shares of NVDA opened at $119.14 on Friday. The stock has a 50 day moving average price of $117.55 and a 200 day moving average price of $105.46. The stock has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.67, a PEG ratio of 0.93 and a beta of 1.67. 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 Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its 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. The company had revenue of $30.04 billion during 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%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid 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 is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has approved a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock worth $465,330,122 in the last three months. 4.23% of the stock is owned by company insiders.

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.