NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Davidson Investment Advisors

Davidson Investment Advisors increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 679.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,558 shares of the computer hardware maker’s stock after buying an additional 2,230 shares during the quarter. Davidson Investment Advisors’ holdings in NVIDIA were worth $316,000 as of its most recent SEC filing.

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

NVIDIA Stock Performance

NVDA opened at $121.40 on Friday. The stock has a market cap of $2.99 trillion, a PE ratio of 70.99, a P/E/G 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. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock’s 50 day simple moving average is $115.88 and its 200-day simple moving average is $108.23.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given 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 dividend payout ratio (DPR) is 2.34%.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Truist Financial raised their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Tigress Financial boosted their target price on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Citigroup boosted their target price on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock worth $526,762,784 over the last three months. Company insiders own 4.23% of the company’s stock.

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.