ProVise Management Group LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

ProVise Management Group LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,146.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,095 shares of the computer hardware maker’s stock after acquiring an additional 21,242 shares during the quarter. ProVise Management Group LLC’s holdings in NVIDIA were worth $2,853,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the first quarter worth approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the 1st quarter worth approximately $27,000. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA 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 completion of the sale, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,756,270 shares of company stock worth $318,992,727 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 2.8 %

Shares of NVDA opened at $139.56 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.42 trillion, a P/E ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company’s 50-day moving average price is $123.56 and its 200 day moving average price is $113.50. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during 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%. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. On average, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. UBS Group reissued a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Truist Financial upped their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Robert W. Baird raised their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five equities research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.07.

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.