Commonwealth Equity Services LLC Has $1.54 Billion Position in NVIDIA Co. (NASDAQ:NVDA)

Commonwealth Equity Services LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 907.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,471,701 shares of the computer hardware maker’s stock after buying an additional 11,233,763 shares during the period. NVIDIA accounts for about 2.4% of Commonwealth Equity Services LLC’s portfolio, making the stock its 3rd largest holding. Commonwealth Equity Services LLC’s holdings in NVIDIA were worth $1,540,754,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter worth $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were 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 directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction 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 $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 worth $526,762,784 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.1 %

Shares of NASDAQ NVDA opened at $121.40 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $115.81 and its 200 day moving average is $107.87. The company has a market cap 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 Co. has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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 company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has initiated 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company 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. 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%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Jefferies Financial Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a report on Monday, August 19th. Finally, Citigroup raised their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. 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 stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

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.