FirstPurpose Wealth LLC acquired a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 531 shares of the computer hardware maker’s stock, valued at approximately $225,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its position in shares of NVIDIA by 8.2% during the second quarter. Byrne Asset Management LLC now owns 2,246 shares of the computer hardware maker’s stock valued at $950,000 after buying an additional 171 shares during the last quarter. IFG Advisory LLC boosted its position in shares of NVIDIA by 34.6% during the second quarter. IFG Advisory LLC now owns 19,108 shares of the computer hardware maker’s stock valued at $8,083,000 after buying an additional 4,907 shares during the last quarter. Segment Wealth Management LLC boosted its position in shares of NVIDIA by 0.6% during the second quarter. Segment Wealth Management LLC now owns 20,173 shares of the computer hardware maker’s stock valued at $8,534,000 after buying an additional 128 shares during the last quarter. E&G Advisors LP boosted its position in shares of NVIDIA by 1.5% during the second quarter. E&G Advisors LP now owns 4,038 shares of the computer hardware maker’s stock valued at $1,708,000 after buying an additional 60 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its position in shares of NVIDIA by 21.2% during the second quarter. Terra Nova Asset Management LLC now owns 8,057 shares of the computer hardware maker’s stock valued at $3,408,000 after buying an additional 1,409 shares during the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.
NVIDIA Price Performance
Shares of NASDAQ NVDA opened at $469.45 on Friday. The firm has a market capitalization of $1.16 trillion, a P/E ratio of 113.39, a P/E/G ratio of 3.52 and a beta of 1.76. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $449.63 and its two-hundred day simple moving average is $390.51. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $502.66.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.
Insider Activity
In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated 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 directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Susquehanna lifted their target price on NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 24th. Raymond James boosted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 24th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. Mizuho boosted their price objective on NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Oppenheimer boosted their price objective on NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $561.45.
Check Out Our Latest Stock 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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