CreativeOne Wealth LLC Purchases 162,531 Shares of NVIDIA Co. (NASDAQ:NVDA)

CreativeOne Wealth LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 752.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 184,141 shares of the computer hardware maker’s stock after purchasing an additional 162,531 shares during the period. NVIDIA comprises approximately 1.2% of CreativeOne Wealth LLC’s portfolio, making the stock its 16th largest holding. CreativeOne Wealth LLC’s holdings in NVIDIA were worth $22,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Diversified Investment Strategies LLC purchased a new stake in shares of NVIDIA during the first quarter valued at $357,000. Ehrlich Financial Group purchased a new stake in NVIDIA in the 1st quarter valued at about $228,000. Sunbelt Securities Inc. grew its stake in NVIDIA by 33.6% in the 1st quarter. Sunbelt Securities Inc. now owns 35,420 shares of the computer hardware maker’s stock worth $32,004,000 after acquiring an additional 8,903 shares in the last quarter. RMR Wealth Builders grew its stake in NVIDIA by 3.9% in the 1st quarter. RMR Wealth Builders now owns 26,375 shares of the computer hardware maker’s stock worth $23,831,000 after acquiring an additional 994 shares in the last quarter. Finally, Benin Management CORP raised its stake in shares of NVIDIA by 9.8% during the first quarter. Benin Management CORP now owns 1,352 shares of the computer hardware maker’s stock valued at $1,222,000 after acquiring an additional 121 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Raymond James raised their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Five 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 data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,636,270 shares of company stock valued at $305,367,927. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $141.54 on Monday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The stock has a 50-day simple moving average of $124.25 and a two-hundred day simple moving average of $114.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities analysts forecast 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. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. 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 is presently 2.34%.

NVIDIA declared 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.