NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Stiles Financial Services Inc

Stiles Financial Services Inc lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 837.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 153,085 shares of the computer hardware maker’s stock after buying an additional 136,755 shares during the period. NVIDIA comprises approximately 7.3% of Stiles Financial Services Inc’s portfolio, making the stock its biggest holding. Stiles Financial Services Inc’s holdings in NVIDIA were worth $18,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Private Wealth Advisors LLC grew its stake in shares of NVIDIA by 1,452.1% in the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares during the period. Lafayette Investments Inc. grew its position in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares during the period. BSN CAPITAL PARTNERS Ltd raised its stake in NVIDIA by 51.4% during the second quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after acquiring an additional 141,930 shares in the last quarter. BLB&B Advisors LLC lifted its holdings in shares of NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares during the period. Finally, Cypress Point Wealth Management LLC boosted its stake in shares of NVIDIA by 772.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after purchasing an additional 5,294 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $117.00 on Wednesday. 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 business has a 50 day simple moving average of $115.72 and a two-hundred day simple moving average of $108.79. The stock has a market capitalization of $2.88 trillion, a P/E ratio of 68.42, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows 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 stock is undervalued.

NVIDIA Cuts Dividend

The firm 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. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $127.14, for a total transaction of $15,256,800.00. Following the completion of the transaction, the chief executive officer now directly owns 79,614,995 shares of the company’s stock, valued at $10,122,250,464.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The disclosure for this sale can be found here. Insiders sold a total of 4,197,403 shares of company stock valued at $501,955,984 over the last quarter. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVDA. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Robert W. Baird increased their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Argus raised their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Company 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.