Resources Management Corp CT ADV Acquires 70,679 Shares of NVIDIA Co. (NASDAQ:NVDA)

Resources Management Corp CT ADV boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 844.3% in the 2nd quarter, Holdings Channel reports. The firm owned 79,050 shares of the computer hardware maker’s stock after acquiring an additional 70,679 shares during the quarter. NVIDIA accounts for approximately 1.4% of Resources Management Corp CT ADV’s portfolio, making the stock its 20th largest position. Resources Management Corp CT ADV’s holdings in NVIDIA were worth $9,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Transamerica Financial Advisors Inc. increased its holdings in NVIDIA by 900.0% during the 2nd quarter. Transamerica Financial Advisors Inc. now owns 123,027 shares of the computer hardware maker’s stock worth $15,199,000 after acquiring an additional 110,724 shares during the period. Morse Asset Management Inc increased its holdings in shares of NVIDIA by 941.1% in the second quarter. Morse Asset Management Inc now owns 200,680 shares of the computer hardware maker’s stock worth $24,792,000 after purchasing an additional 181,404 shares during the period. Davidson Kempner Capital Management LP purchased a new stake in shares of NVIDIA in the second quarter worth $6,170,000. Marietta Investment Partners LLC grew its position in NVIDIA by 996.4% during the second quarter. Marietta Investment Partners LLC now owns 124,570 shares of the computer hardware maker’s stock worth $15,389,000 after buying an additional 113,208 shares in the last quarter. Finally, Xponance Inc. increased its stake in NVIDIA by 905.3% in the 2nd quarter. Xponance Inc. now owns 5,801,923 shares of the computer hardware maker’s stock worth $716,770,000 after acquiring an additional 5,224,766 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,636,270 shares of company stock valued at $305,367,927 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $141.54 on Friday. The business’s fifty day moving average is $124.25 and its 200 day moving average is $114.26. 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 $3.48 trillion, a price-to-earnings ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NVDA shares. Robert W. Baird raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. HSBC lifted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

About NVIDIA

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.