Modera Wealth Management LLC Acquires 104,540 Shares of NVIDIA Co. (NASDAQ:NVDA)

Modera Wealth Management LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 967.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 115,348 shares of the computer hardware maker’s stock after purchasing an additional 104,540 shares during the period. Modera Wealth Management LLC’s holdings in NVIDIA were worth $14,250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Aveo Capital Partners LLC boosted its position in NVIDIA by 30.5% in the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in NVIDIA by 60.9% in the fourth 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 during the last quarter. Financial Advisors Network Inc. boosted its position in NVIDIA by 18.6% in the fourth quarter. Financial Advisors Network Inc. now owns 2,731 shares of the computer hardware maker’s stock worth $1,352,000 after purchasing an additional 428 shares during the last quarter. Union Savings Bank boosted its position in NVIDIA by 3.4% in the fourth quarter. Union Savings Bank now owns 890 shares of the computer hardware maker’s stock worth $441,000 after purchasing an additional 29 shares during the last quarter. Finally, Tidemark LLC purchased a new position in NVIDIA in the fourth quarter worth about $470,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The disclosure for this sale can be found here. Insiders sold a total of 4,352,303 shares of company stock worth $521,745,907 in the last quarter. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Performance

NASDAQ NVDA opened at $120.87 on Wednesday. The company has a market cap of $2.97 trillion, a P/E ratio of 70.68, 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 quick ratio of 3.79 and a current ratio of 4.27. The business’s 50 day moving average price is $115.64 and its 200-day moving average price is $107.64. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are 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 issued 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 payout ratio is currently 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.