NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 862.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 911,938 shares of the computer hardware maker’s stock after buying an additional 817,207 shares during the quarter. NVIDIA accounts for 8.7% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its largest position. Adell Harriman & Carpenter Inc.’s holdings in NVIDIA were worth $112,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying 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 approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 40,000 shares of the company’s 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 transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the transaction, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. The disclosure for this sale can be found here. Insiders sold 4,077,403 shares of company stock worth $486,699,184 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.4 %

Shares of NASDAQ NVDA opened at $122.85 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The firm has a market cap of $3.02 trillion, a PE ratio of 71.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The business has a fifty day simple moving average of $116.03 and a two-hundred day simple moving average of $108.96. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for 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 business’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback program 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 repurchase 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 stock is undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Morgan Stanley raised their target price on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Argus upped their price target on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Sanford C. Bernstein raised their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus 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.