NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Private Ocean LLC

Private Ocean LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,178.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,447 shares of the computer hardware maker’s stock after purchasing an additional 19,770 shares during the quarter. Private Ocean LLC’s holdings in NVIDIA were worth $2,650,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hamilton Wealth LLC raised its holdings in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC raised its stake in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares during the period. Curran Financial Partners LLC increased its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC grew its holdings in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares in the last quarter. Finally, M. Kraus & Co boosted its holdings in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. StockNews.com downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Truist Financial lifted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Morgan Stanley boosted their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Down 2.1 %

Shares of NVDA opened at $121.40 on Friday. The business’s 50 day moving average is $115.81 and its 200 day moving average is $107.87. The company has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 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 current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

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

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,397,403 shares of company stock valued at $526,762,784 in the last quarter. 4.23% of the stock is currently owned by insiders.

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.