SYSTM Wealth Solutions LLC Purchases 22,742 Shares of NVIDIA Co. (NASDAQ:NVDA)

SYSTM Wealth Solutions LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 621.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,404 shares of the computer hardware maker’s stock after buying an additional 22,742 shares during the period. SYSTM Wealth Solutions LLC’s holdings in NVIDIA were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meyer Handelman Co. lifted its position in shares of NVIDIA by 1.9% during the 1st quarter. Meyer Handelman Co. now owns 13,542 shares of the computer hardware maker’s stock valued at $12,236,000 after acquiring an additional 257 shares during the period. Gulf International Bank UK Ltd lifted its position in NVIDIA by 1.1% during the first quarter. Gulf International Bank UK Ltd now owns 219,456 shares of the computer hardware maker’s stock worth $198,291,000 after purchasing an additional 2,465 shares during the period. Bennett Selby Investments LP acquired a new stake in NVIDIA during the first quarter worth about $827,000. Executive Wealth Group LLC bought a new position in NVIDIA in the 1st quarter valued at about $212,000. Finally, Hummer Financial Advisory Services Inc acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $361,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 4.1 %

NASDAQ NVDA opened at $143.71 on Tuesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $143.71. 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 $122.58 and a 200 day simple moving average of $112.92. The stock has a market capitalization of $3.53 trillion, a P/E ratio of 67.41, a P/E/G ratio of 1.25 and a beta of 1.67.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. DA Davidson reissued a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp boosted their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. The Goldman Sachs Group raised their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Truist Financial boosted 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. Finally, Citigroup raised their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the completion of the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related 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 transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,876,270 shares of company stock worth $333,061,527. 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.