Schneider Downs Wealth Management Advisors LP Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Schneider Downs Wealth Management Advisors LP increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 810.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,409 shares of the computer hardware maker’s stock after buying an additional 6,595 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in NVIDIA were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Hamilton Wealth LLC grew its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC grew its position in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares in the last quarter. Curran Financial Partners LLC grew its position in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its position in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after acquiring an additional 12 shares in the last quarter. Finally, M. Kraus & Co grew its position in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,236,270 shares of company stock valued at $376,316,727 over the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NVDA shares. Raymond James lifted their target price on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Wells Fargo & Company boosted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.80 on Monday. 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 stock has a fifty day moving average price of $118.54 and a 200 day moving average price of $110.89. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a market cap of $3.31 trillion, a PE ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share repurchase plan 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 plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

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.