Rain Capital Management LLC Acquires New Holdings in NVIDIA Co. (NASDAQ:NVDA)

Rain Capital Management LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 513 shares of the computer hardware maker’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently bought and sold shares of NVDA. Von Berge Wealth Management Group LLC boosted its holdings in shares of NVIDIA by 2.6% in the second quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock valued at $393,000 after buying an additional 24 shares during the period. DBK Financial Counsel LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $265,000. IFM Investors Pty Ltd boosted its holdings in shares of NVIDIA by 4.9% in the second quarter. IFM Investors Pty Ltd now owns 488,552 shares of the computer hardware maker’s stock valued at $206,667,000 after buying an additional 22,809 shares during the period. Mayport LLC boosted its holdings in shares of NVIDIA by 69.6% in the second quarter. Mayport LLC now owns 1,833 shares of the computer hardware maker’s stock valued at $775,000 after buying an additional 752 shares during the period. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $489,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of NVIDIA to $600.00 in a report on Thursday, August 24th. Phillip Securities upgraded shares of NVIDIA from an “accumulate” rating to a “buy” rating in a report on Monday, August 28th. Wolfe Research increased their target price on shares of NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Raymond James increased their target price on shares of NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 24th. Finally, Wedbush restated an “outperform” rating and set a $600.00 target price on shares of NVIDIA in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.49.

NVIDIA Trading Up 2.3 %

NVDA opened at $504.09 on Tuesday. The company’s 50 day moving average is $445.22 and its 200-day moving average is $425.77. The company has a market cap of $1.25 trillion, a P/E ratio of 121.76, a PEG ratio of 3.80 and a beta of 1.69. NVIDIA Co. has a 1-year low of $138.84 and a 1-year high of $505.48. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter last year, the business earned $0.32 EPS. Equities research analysts predict that NVIDIA Co. will post 9.66 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the transaction, the chief financial officer now owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock worth $67,606,089 in the last quarter. 3.99% of the stock is owned by insiders.

NVIDIA 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.