Richardson Capital Management LLC Buys 4,290 Shares of NVIDIA Co. (NASDAQ:NVDA)

Richardson Capital Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 934.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,749 shares of the computer hardware maker’s stock after purchasing an additional 4,290 shares during the quarter. NVIDIA comprises 0.5% of Richardson Capital Management LLC’s holdings, making the stock its 12th largest holding. Richardson Capital Management LLC’s holdings in NVIDIA were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC grew its stake 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 worth $1,164,000 after acquiring an additional 549 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in NVIDIA by 60.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares in the last quarter. Quadrant Capital Group LLC grew its position in NVIDIA by 8.1% during the 4th quarter. Quadrant Capital Group LLC now owns 24,671 shares of the computer hardware maker’s stock worth $12,218,000 after purchasing an additional 1,855 shares during the last quarter. Fairhaven Wealth Management LLC increased its stake in NVIDIA by 21.8% during the 4th quarter. Fairhaven Wealth Management LLC now owns 1,613 shares of the computer hardware maker’s stock valued at $799,000 after purchasing an additional 289 shares in the last quarter. Finally, Laffer Tengler Investments Inc. increased its stake in NVIDIA by 2.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 1,552 shares of the computer hardware maker’s stock valued at $769,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’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 transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, 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 document filed with the SEC, which is available at this link. 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 transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. 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. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NVDA. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Melius Research raised their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Wedbush restated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Citigroup increased their price objective 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. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Up 4.0 %

NASDAQ NVDA opened at $117.87 on Friday. The company has a market capitalization of $2.90 trillion, a P/E ratio of 68.93, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month 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. The company’s 50 day simple moving average is $116.25 and its 200 day simple moving average is $106.75.

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 analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the company posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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.