NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Glass Jacobson Investment Advisors llc

Glass Jacobson Investment Advisors llc grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 952.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,974 shares of the computer hardware maker’s stock after acquiring an additional 21,696 shares during the period. NVIDIA comprises about 1.1% of Glass Jacobson Investment Advisors llc’s holdings, making the stock its 22nd largest position. Glass Jacobson Investment Advisors llc’s holdings in NVIDIA were worth $2,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of 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 buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NVDA shares. Bank of America increased their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein increased their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a report on Thursday, October 10th. Citigroup increased their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Wedbush reissued an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Down 0.1 %

NVDA opened at $143.59 on Wednesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. 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 market cap of $3.53 trillion, a P/E ratio of 83.97, a P/E/G ratio of 1.25 and a beta of 1.67. The stock’s 50 day moving average price is $123.13 and its 200 day moving average price is $113.31.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 (DPR) is presently 2.34%.

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,756,270 shares of company stock worth $318,992,727. 4.23% of the stock is owned by company insiders.

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.