Oppenheimer Asset Management Inc. Acquires 824,320 Shares of NVIDIA Co. (NASDAQ:NVDA)

Oppenheimer Asset Management Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 848.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 921,482 shares of the computer hardware maker’s stock after purchasing an additional 824,320 shares during the period. NVIDIA accounts for about 1.5% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Oppenheimer Asset Management Inc.’s holdings in NVIDIA were worth $113,840,000 as of its most recent SEC filing.

A number of other large 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 valued at $2,839,000 after purchasing an additional 9 shares in the last quarter. Brooklyn FI LLC increased its position in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares during the last quarter. Curran Financial Partners LLC raised its holdings in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC grew its stake in 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 purchasing an additional 12 shares in the last quarter. Finally, M. Kraus & Co increased its position in shares of NVIDIA by 2.0% during the 1st 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 last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,996,270 shares of company stock valued at $347,729,127 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Needham & Company LLC increased their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho boosted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. UBS Group reiterated a “buy” rating and issued a $150.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Evercore ISI boosted their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. 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. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Stock Performance

NVIDIA stock opened at $136.93 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.37 trillion, a PE ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89. The business’s 50-day moving average price is $121.22 and its two-hundred day moving average price is $111.86.

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

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

NVIDIA 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.