WP Advisors LLC buys 50,399 shares of NVIDIA Co. (NASDAQ:NVDA)

WP Advisors LLC raised its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 890.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,061 shares of the computer hardware maker’s stock after acquiring an additional 50,399 shares during the period. NVIDIA makes up about 2.2% of WP Advisors LLC’s holdings, making the stock its 12th largest holding. WP Advisors LLC’s holdings in NVIDIA were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVDA. Hamilton Wealth LLC grew its position in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC raised its stake in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC boosted its holdings in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC grew its stake in shares of NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co grew its holdings in NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s shares.

Analysts set new price targets

Several analysts have issued reports on the company. 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. DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Robert W. Baird raised their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James boosted their price objective 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, JPMorgan Chase & Co. lifted 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. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10, according to MarketBeat.

Check out our latest review on NVDA

Insider buying and selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares in the company, valued at $9,819,329,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the sale, the chief executive officer now owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold 4,397,403 shares of company stock worth $526,762,784 in the last quarter. Corporate insiders own 4.23% of the company’s shares.

NVIDIA trading up 0.4%

Shares of NVDA opened at $124.04 on Friday. 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. it has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a market cap of $3.04 trillion, a PE ratio of 72.54, a P/E/G ratio of 1.05 and a beta of 1.67. The stock’s fifty day moving average price is $115.75 and its two hundred day moving average price is $107.76.

NVIDIA (NASDAQ:NVDA – Get Your Free Report ) last released its 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 122.4% year over year. In the same quarter last year, the business posted earnings of $0.25 per share. Stock analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA cuts dividend

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

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

About NVIDIA

(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.

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