The position of NVIDIA Co. (NASDAQ:NVDA) was upgraded by Integrity Wealth Solutions LLC

VaselineSeptember 19, 2024

0 5 minutes read

Integrity Wealth Solutions LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 583.4% during the 2nd quarter, Holdings Channel reports. The fund owned 21,432 shares of the computer hardware maker’s stock after buying an additional 18,296 shares during the period. NVIDIA makes up about 1.7% of Integrity Wealth Solutions LLC’s portfolio, making the stock its 18th largest position. Integrity Wealth Solutions LLC’s holdings in NVIDIA were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its position in shares of NVIDIA by 524.9% during the 2nd quarter. ARK Investment Management LLC now owns 417,687 shares of the computer hardware maker’s stock valued at $51,601,000 after buying another 350,845 shares in the last quarter. Legato Capital Management LLC grew its stake in shares of NVIDIA by 382.8% during the second quarter. Legato Capital Management LLC now owns 28,010 shares of the computer hardware maker’s stock valued at $3,460,000 after purchasing an additional 22,209 shares in the last quarter. Granite Harbor Advisors Inc. boosted its holdings in NVIDIA by 895.7% during the second quarter. Granite Harbor Advisors Inc. now owns 44,934 shares of the computer hardware maker’s stock worth $5,551,000 after buying an additional 40,421 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in NVIDIA by 858.9% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 51,750 shares of the computer hardware maker’s stock worth $6,393,000 after purchasing an additional 46,353 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its holdings in shares of NVIDIA by 650.4% in the second quarter. Aspen Investment Management Inc now owns 6,679 shares of the computer hardware maker’s stock valued at $825,000 after purchasing an additional 5,789 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s shares.

NVIDIA stock performance

Shares of NVDA stock opened at $113.37 on Thursday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a fifty day moving average of $116.45 and a 200 day moving average of $106.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27, and a quick ratio of 3.79. The firm has a market cap of $2.79 trillion, a P/E ratio of 66.30, a PEG ratio of 1.06 and a beta of 1.67.

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NVIDIA (NASDAQ:NVDA – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue increased 122.4% year over year. During the same period in the previous year, the business posted EPS of $0.25. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA cuts dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date is Thursday, September 12. This represents a dividend of $0.04 on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Stock buyback plans are usually a sign that a company’s board of directors believes its stock is undervalued.

Analysts on Wall Street are forecasting an increase

A number of research firms recently weighed in on NVDA. Morgan Stanley upped their target price on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Melius Research upped their target price on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.10.

Read our latest review on NVDA

Insiders place their bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the transaction, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. Insiders have sold 3,725,633 shares of company stock worth $449,025,722 over the last three months. 4.23% of shares are owned by company insiders.

NVIDIA profile

(Free report)

NVIDIA Corporation provides graphics and computing 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 graphics workstations; 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.