2,017 Shares in NVIDIA Co. (NASDAQ:NVDA) Bought by Solano Wealth Management Inc.

Solano Wealth Management Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,017 shares of the computer hardware maker’s stock, valued at approximately $249,000. NVIDIA comprises 0.1% of Solano Wealth Management Inc.’s holdings, making the stock its 29th largest position.

A number of other institutional investors have also modified their holdings of NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA in the 1st quarter worth about $30,000. Norwood Financial Corp acquired a new stake in NVIDIA in the 1st quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its holdings in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the 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 sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following 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 can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,397,403 shares of company stock valued at $526,762,784. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $121.40 on Friday. The company has a 50-day simple moving average of $115.81 and a 200-day simple moving average of $107.87. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. 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 stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVDA shares. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI lifted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.