NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Grey Fox Wealth Advisors LLC

Grey Fox Wealth Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 884.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,132 shares of the computer hardware maker’s stock after buying an additional 5,509 shares during the period. Grey Fox Wealth Advisors LLC’s holdings in NVIDIA were worth $758,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC increased its position in 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 purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC increased its position in shares of 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. AXS Investments LLC boosted its stake in shares of NVIDIA by 16.8% in the 4th quarter. AXS Investments LLC now owns 9,044 shares of the computer hardware maker’s stock valued at $4,479,000 after buying an additional 1,300 shares during the period. SageView Advisory Group LLC increased its position in shares of NVIDIA by 66.5% in the 4th quarter. SageView Advisory Group LLC now owns 16,493 shares of the computer hardware maker’s stock valued at $8,168,000 after purchasing an additional 6,589 shares during the last quarter. Finally, BayBridge Capital Group LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $1,485,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NVDA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial upped their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Up 2.2 %

Shares of NVIDIA stock opened at $123.51 on Thursday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The stock has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 72.23, a PEG ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $115.64 and its 200-day simple moving average is $107.64.

NVIDIA (NASDAQ:NVDA) last announced its 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 firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. 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 2.34%.

NVIDIA announced that its board has initiated a share buyback plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $125.04, for a total value of $15,004,800.00. Following the completion of the transaction, the chief executive officer now directly owns 80,094,995 shares in the company, valued at $10,015,078,174.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, June 28th. The shares were sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the completion of the sale, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at approximately $10,015,078,174.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,352,303 shares of company stock worth $521,745,907. Corporate insiders own 4.23% of the company’s stock.

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.