Optimist Retirement Group LLC Purchases 1,570 Shares of NVIDIA Co. (NASDAQ:NVDA)

Optimist Retirement Group LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 449.9% during the second quarter, Holdings Channel reports. The firm owned 1,919 shares of the computer hardware maker’s stock after buying an additional 1,570 shares during the quarter. Optimist Retirement Group LLC’s holdings in NVIDIA were worth $237,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners raised its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. KeyCorp upped their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Craig Hallum boosted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Truist Financial increased 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling

In other NVIDIA 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 value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, 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 is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were 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. This trade represents 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 2,756,270 shares of company stock worth $318,992,727. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $139.56 on Thursday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The firm has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The firm has a fifty day simple moving average of $123.56 and a two-hundred day simple moving average of $113.50. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

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

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.