Planning Alternatives Ltd. ADV Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Planning Alternatives Ltd. ADV purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,740 shares of the computer hardware maker’s stock, valued at approximately $215,000.

Several other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the last quarter. Swedbank AB grew its position in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after acquiring an additional 34,678,944 shares during the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter worth about $14,606,369,000. New York State Teachers Retirement System lifted its position in NVIDIA by 852.4% in the 2nd quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock valued at $2,935,815,000 after purchasing an additional 21,268,926 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in NVIDIA by 861.8% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock valued at $2,149,175,000 after purchasing an additional 15,587,911 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $119.10 on Monday. The firm’s 50 day simple moving average is $117.42 and its 200 day simple moving average is $106.13. The company has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.65, a P/E/G ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. 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 dividend payout ratio (DPR) is currently 2.34%.

NVIDIA declared that its Board of Directors has authorized 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NVDA shares. Raymond James lifted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Finally, Citigroup boosted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five equities research 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 company. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was 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 $10,980,333,370.65. 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 company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock valued at $465,330,122 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

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.