Congress Wealth Management LLC DE lowered its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,907 shares of the computer hardware maker’s stock after selling 1,927 shares during the period. NVIDIA comprises 1.0% of Congress Wealth Management LLC DE’s holdings, making the stock its 20th largest position. Congress Wealth Management LLC DE’s holdings in NVIDIA were worth $40,994,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. NovaPoint Capital LLC raised its position in shares of NVIDIA by 0.7% during the 2nd quarter. NovaPoint Capital LLC now owns 4,680 shares of the computer hardware maker’s stock valued at $1,980,000 after buying an additional 31 shares in the last quarter. Thomasville National Bank raised its position in NVIDIA by 2.6% in the 2nd quarter. Thomasville National Bank now owns 1,279 shares of the computer hardware maker’s stock worth $541,000 after purchasing an additional 33 shares during the period. Nikulski Financial Inc. raised its position in NVIDIA by 1.3% in the 1st quarter. Nikulski Financial Inc. now owns 2,675 shares of the computer hardware maker’s stock worth $743,000 after purchasing an additional 35 shares during the period. Opal Wealth Advisors LLC raised its position in NVIDIA by 1.8% in the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock worth $584,000 after purchasing an additional 37 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its position in NVIDIA by 0.3% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 11,710 shares of the computer hardware maker’s stock worth $3,253,000 after purchasing an additional 37 shares during the period. Institutional investors own 64.79% of the company’s stock.
Insider Buying and Selling
In related news, Director John Dabiri sold 283 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John Dabiri sold 283 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,515 shares of company stock worth $67,726,231. 3.99% of the stock is owned by insiders.
NVIDIA Stock Up 1.4 %
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue was up 101.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, research analysts expect that NVIDIA Co. will post 9.46 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th will be given a $0.04 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 3.86%.
Analysts Set New Price Targets
NVDA has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of NVIDIA from $545.00 to $668.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Tigress Financial boosted their price objective on shares of NVIDIA from $320.00 to $560.00 in a research report on Friday, July 7th. Stifel Nicolaus upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and boosted their price objective for the company from $440.00 to $600.00 in a research report on Thursday, August 24th. StockNews.com initiated coverage on shares of NVIDIA in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group lifted their target price on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $555.70.
Read Our Latest Research Report on NVIDIA
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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