Spire Wealth Management reduced its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,585 shares of the computer hardware maker’s stock after selling 885 shares during the period. NVIDIA accounts for about 1.2% of Spire Wealth Management’s investment portfolio, making the stock its 13th biggest position. Spire Wealth Management’s holdings in NVIDIA were worth $33,243,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Lineweaver Wealth Advisors LLC grew its holdings in shares of NVIDIA by 0.9% in the second quarter. Lineweaver Wealth Advisors LLC now owns 2,432 shares of the computer hardware maker’s stock valued at $1,029,000 after purchasing an additional 22 shares in the last quarter. BCM Advisors LLC increased its holdings in shares of NVIDIA by 0.8% in the 2nd quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock worth $1,390,000 after buying an additional 23 shares during the last quarter. Von Berge Wealth Management Group LLC lifted its holdings in shares of NVIDIA by 2.6% in the 2nd quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock valued at $393,000 after acquiring an additional 24 shares during the last quarter. LWM Advisory Services LLC increased its stake in NVIDIA by 1.2% during the second quarter. LWM Advisory Services LLC now owns 2,018 shares of the computer hardware maker’s stock worth $855,000 after acquiring an additional 24 shares during the last quarter. Finally, Kapstone Financial Advisors LLC lifted its stake in shares of NVIDIA by 1.7% in the 2nd quarter. Kapstone Financial Advisors LLC now owns 1,436 shares of the computer hardware maker’s stock valued at $668,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.
Insider Activity at NVIDIA
In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the sale, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at approximately $3,793,980,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the completion of the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,793,980,800. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Colette Kress sold 4,980 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at $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 three months. Company insiders own 3.99% of the company’s stock.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion for 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 revenue was up 101.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 9.66 EPS for the current year.
NVIDIA Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is 3.86%.
Wall Street Analysts Forecast Growth
NVDA has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $620.00 price target on shares of NVIDIA in a research report on Friday. Susquehanna increased their price target on NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 24th. JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating and set a $600.00 price objective on shares of NVIDIA in a report on Friday. Finally, Rosenblatt Securities reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $571.49.
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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