Northcape Wealth Management LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Northcape Wealth Management LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,422.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,100 shares of the computer hardware maker’s stock after purchasing an additional 4,765 shares during the quarter. Northcape Wealth Management LLC’s holdings in NVIDIA were worth $630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted 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 position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $116.78 on Tuesday. The business has a 50-day moving average of $117.19 and a two-hundred day moving average of $106.39. The firm has a market capitalization of $2.87 trillion, a PE ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67. 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 $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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 firm had revenue of $30.04 billion for 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%. NVIDIA’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. As a group, research analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The disclosure for this sale can be found here. Insiders have sold 3,845,633 shares of company stock worth $465,330,122 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVDA shares. Susquehanna increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wolfe Research upped their price target on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, DZ Bank cut NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective for the company. in a report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.