NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Liberty Wealth Management LLC

Liberty Wealth Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5,056.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 428,397 shares of the computer hardware maker’s stock after buying an additional 420,089 shares during the period. NVIDIA makes up 1.3% of Liberty Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Liberty Wealth Management LLC’s holdings in NVIDIA were worth $52,924,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after buying an additional 57,160,191 shares during the last quarter. Rhumbline Advisers increased its position in shares of NVIDIA by 892.0% in the 2nd quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock valued at $5,773,914,000 after acquiring an additional 42,025,613 shares during the period. Finally, Van ECK Associates Corp raised its stake in NVIDIA by 741.8% in the 2nd quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after acquiring an additional 35,255,679 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,356,270 shares of company stock valued at $391,787,127. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 0.0 %

Shares of NVDA opened at $134.80 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The stock has a market cap of $3.31 trillion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The firm’s fifty day moving average is $118.54 and its two-hundred day moving average is $110.62. 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 posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVDA. Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research report on Thursday. Melius Research raised their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Finally, Evercore ISI raised their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.46.

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.