AR Asset Management Inc. Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

AR Asset Management Inc. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 911.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 81,450 shares of the computer hardware maker’s stock after buying an additional 73,395 shares during the quarter. NVIDIA accounts for 2.4% of AR Asset Management Inc.’s holdings, making the stock its 12th biggest position. AR Asset Management Inc.’s holdings in NVIDIA were worth $10,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Single Point Partners LLC increased its stake in shares of NVIDIA by 4.0% during the 1st quarter. Single Point Partners LLC now owns 595 shares of the computer hardware maker’s stock worth $537,000 after purchasing an additional 23 shares during the last quarter. Abacus Planning Group Inc. lifted its position in shares of NVIDIA by 49.9% during the 1st quarter. Abacus Planning Group Inc. now owns 2,181 shares of the computer hardware maker’s stock valued at $1,971,000 after buying an additional 726 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of NVIDIA by 0.6% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,788 shares of the computer hardware maker’s stock worth $7,037,000 after acquiring an additional 47 shares during the period. True North Advisors LLC increased its holdings in NVIDIA by 33.1% in the 1st quarter. True North Advisors LLC now owns 1,847 shares of the computer hardware maker’s stock worth $1,669,000 after acquiring an additional 459 shares during the last quarter. Finally, Cherrydale Wealth Management LLC raised its stake in NVIDIA by 16.7% in the 1st quarter. Cherrydale Wealth Management LLC now owns 1,924 shares of the computer hardware maker’s stock valued at $1,738,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $139.56 on Thursday. The stock’s 50 day moving average price is $123.56 and its 200-day moving average price is $113.50. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted 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. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

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

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James raised their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,756,270 shares of company stock worth $318,992,727 in the last three months. 4.23% of the stock is owned by corporate insiders.

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.