NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 801.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,890 shares of the computer hardware maker’s stock after buying an additional 39,021 shares during the period. NVIDIA makes up approximately 4.3% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Primoris Wealth Advisors LLC’s holdings in NVIDIA were worth $5,422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVDA. International Private Wealth Advisors LLC increased its stake in shares of NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after acquiring an additional 7,028 shares during the period. Lafayette Investments Inc. boosted its holdings in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares during the last quarter. BSN CAPITAL PARTNERS Ltd boosted its holdings in NVIDIA by 51.4% in the second quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock valued at $51,823,000 after purchasing an additional 141,930 shares during the last quarter. BLB&B Advisors LLC grew its position in NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after purchasing an additional 510,294 shares during the period. Finally, Cypress Point Wealth Management LLC raised its stake in shares of NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after buying an additional 5,294 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. KeyCorp lifted their target price on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Bank of America reiterated a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a research note on Thursday, September 5th. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

NVDA stock opened at $118.85 on Thursday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a market capitalization of $2.92 trillion, a PE ratio of 69.50, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50 day simple moving average of $115.81 and a 200-day simple moving average of $108.86.

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, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during 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 company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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 issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

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

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction 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 can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The disclosure for this sale can be found here. Insiders sold a total of 4,197,403 shares of company stock valued at $501,955,984 in the last 90 days. Company 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.