Sanctuary Advisors LLC Invests $30.51 Million in NVIDIA Co. (NASDAQ:NVDA)

Sanctuary Advisors LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, HoldingsChannel reports. The firm bought 246,984 shares of the computer hardware maker’s stock, valued at approximately $30,512,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Diversified Investment Strategies LLC purchased a new position in NVIDIA in the 1st quarter valued at about $357,000. Privium Fund Management UK Ltd acquired a new position in shares of NVIDIA in the first quarter worth about $2,635,000. Richardson Capital Management LLC purchased a new position in NVIDIA in the first quarter valued at about $415,000. Red Door Wealth Management LLC grew its stake in NVIDIA by 3.7% during the 1st quarter. Red Door Wealth Management LLC now owns 22,734 shares of the computer hardware maker’s stock valued at $20,541,000 after purchasing an additional 808 shares in the last quarter. Finally, Trilogy Capital Inc. increased its holdings in NVIDIA by 87.2% during the 1st quarter. Trilogy Capital Inc. now owns 1,084 shares of the computer hardware maker’s stock worth $979,000 after purchasing an additional 505 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,516,270 shares of company stock worth $291,803,127. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.40 on Friday. The firm has a market capitalization of $3.32 trillion, a PE ratio of 63.57, a P/E/G ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42. The company’s 50 day simple moving average is $125.25 and its 200 day simple moving average is $116.01.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. HSBC boosted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.