Cherrydale Wealth Management LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cherrydale Wealth Management LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,394 shares of the computer hardware maker’s stock after acquiring an additional 126 shares during the quarter. NVIDIA comprises 1.1% of Cherrydale Wealth Management LLC’s holdings, making the stock its 14th largest holding. Cherrydale Wealth Management LLC’s holdings in NVIDIA were worth $2,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $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 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Finally, William Blair started 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-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.40.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $141.98 on Friday. The business has a 50 day simple moving average of $130.97 and a 200-day simple moving average of $120.08. The company has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. 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 issued its quarterly earnings data 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current 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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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.