Fullcircle Wealth LLC Takes $270,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Fullcircle Wealth LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,366 shares of the computer hardware maker’s stock, valued at approximately $270,000.

Other large investors have also recently bought and sold shares of the company. Hamilton Wealth LLC increased its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC boosted its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the last quarter. Curran Financial Partners LLC increased its position in shares of NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its stake in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its holdings in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the transaction, the director now directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value 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 have sold a total of 3,845,633 shares of company stock worth $465,330,122 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NVDA shares. Needham & Company LLC increased their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Evercore ISI lifted their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Robert W. Baird raised their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Trading Down 0.0 %

NASDAQ NVDA opened at $119.10 on Monday. The stock has a 50-day moving average of $117.42 and a 200-day moving average of $106.13. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The firm has a market cap of $2.93 trillion, a PE ratio of 69.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback 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 often an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis 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 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.