Burney Co. Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Burney Co. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 439.3% during the second quarter, Holdings Channel.com reports. The firm owned 22,627 shares of the computer hardware maker’s stock after buying an additional 18,431 shares during the quarter. Burney Co.’s holdings in NVIDIA were worth $9,572,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Lineweaver Wealth Advisors LLC grew its holdings in NVIDIA by 0.9% during the 2nd quarter. Lineweaver Wealth Advisors LLC now owns 2,432 shares of the computer hardware maker’s stock worth $1,029,000 after acquiring an additional 22 shares in the last quarter. BCM Advisors LLC lifted its position in shares of NVIDIA by 0.8% during 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 position in shares of NVIDIA by 2.6% during the 2nd quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after buying an additional 24 shares during the last quarter. LWM Advisory Services LLC lifted its position in shares of NVIDIA by 1.2% during the 2nd quarter. LWM Advisory Services LLC now owns 2,018 shares of the computer hardware maker’s stock worth $855,000 after buying an additional 24 shares during the last quarter. Finally, Kapstone Financial Advisors LLC lifted its position in shares of NVIDIA by 1.7% during the 2nd quarter. Kapstone Financial Advisors LLC now owns 1,436 shares of the computer hardware maker’s stock worth $668,000 after buying an additional 24 shares during the last quarter. 64.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $504.09 on Tuesday. The company has a market cap of $1.25 trillion, a PE ratio of 121.76, a P/E/G ratio of 3.80 and a beta of 1.69. The company has a fifty day moving average price of $445.22 and a two-hundred day moving average price of $425.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. NVIDIA Co. has a 12 month low of $138.84 and a 12 month high of $505.48.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.32 earnings per share. Research analysts expect that NVIDIA Co. will post 9.66 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NVDA shares. The Goldman Sachs Group upgraded shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 2nd. Phillip Securities upgraded shares of NVIDIA from an “accumulate” rating to a “buy” rating in a research report on Monday, August 28th. Argus upped their price target on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of NVIDIA in a research report on Friday. Finally, Westpark Capital upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $571.49.

About NVIDIA

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.