Naviter Wealth LLC Acquires 102,492 Shares of NVIDIA Co. (NASDAQ:NVDA)

Naviter Wealth LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,000.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,734 shares of the computer hardware maker’s stock after purchasing an additional 102,492 shares during the period. NVIDIA accounts for 2.1% of Naviter Wealth LLC’s investment portfolio, making the stock its 9th largest holding. Naviter Wealth LLC’s holdings in NVIDIA were worth $13,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the 1st quarter worth approximately $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The disclosure for this sale can be found here. Insiders have sold 4,077,403 shares of company stock valued at $486,699,184 over the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. HSBC lifted their price objective on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Tigress Financial upped their target price on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, KeyCorp upped their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Five investment 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 company. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $122.85 on Friday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week 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. The firm has a market cap of $3.02 trillion, a price-to-earnings ratio of 71.84, a PEG ratio of 1.05 and a beta of 1.67. The stock has a 50 day moving average of $116.03 and a 200-day moving average of $108.96.

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

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

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA Company 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.