NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by New Millennium Group LLC

New Millennium Group LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 975.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 147,763 shares of the computer hardware maker’s stock after purchasing an additional 134,019 shares during the quarter. NVIDIA accounts for about 11.9% of New Millennium Group LLC’s investment portfolio, making the stock its largest holding. New Millennium Group LLC’s holdings in NVIDIA were worth $18,255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Aveo Capital Partners LLC increased its holdings in shares of NVIDIA by 30.5% during the fourth 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 period. Gryphon Financial Partners LLC grew its holdings 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 worth $7,188,000 after acquiring an additional 5,496 shares during the period. Moran Wealth Management LLC grew its holdings in NVIDIA by 937.4% during the fourth quarter. Moran Wealth Management LLC now owns 23,455 shares of the computer hardware maker’s stock worth $11,615,000 after acquiring an additional 21,194 shares during the period. Pacific Sun Financial Corp acquired a new position in NVIDIA during the fourth quarter worth about $214,000. Finally, Nordwand Advisors LLC grew its holdings in NVIDIA by 40.0% during the fourth quarter. Nordwand Advisors LLC now owns 140 shares of the computer hardware maker’s stock worth $69,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 1.0 %

Shares of NVDA opened at $115.59 on Wednesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market cap of $2.84 trillion, a P/E ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a 50 day simple moving average of $116.88 and a two-hundred day simple moving average of $106.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business 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 company’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 2.34%.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the sale, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders have sold a total of 3,845,633 shares of company stock valued at $465,330,122 over the last 90 days. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVDA shares. Melius Research lifted their target price on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Argus lifted their target price on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Oppenheimer restated an “outperform” rating and set a $110.00 price target on shares of NVIDIA in a report on Thursday, May 23rd. Finally, UBS Group upped their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.