NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 908.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,520 shares of the computer hardware maker’s stock after acquiring an additional 13,080 shares during the quarter. NVIDIA accounts for about 1.4% of Smallwood Wealth Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. Smallwood Wealth Investment Management LLC’s holdings in NVIDIA were worth $1,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Insiders have sold 3,621,133 shares of company stock worth $435,749,957 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVDA shares. Oppenheimer reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a report on Thursday, May 23rd. Barclays reduced their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 10th. Wells Fargo & Company raised their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wolfe Research increased their price target on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $117.87 on Friday. The stock has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 68.93, a PEG ratio of 1.06 and a beta of 1.67. The firm has a fifty day moving average of $116.25 and a two-hundred day moving average of $106.75. 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 52 week low of $39.23 and a 52 week high of $140.76.

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

NVIDIA declared that its board has initiated a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

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.