Independent Wealth Network Inc. Grows Stock Position in NVIDIA Corporation $NVDA

Key Points

• Independent Wealth Network Inc. increased its stake in NVIDIA Corporation by 8.0% in Q2, owning 26,645 shares valued at approximately $4.21 million.
• Insider sales included Director Mark A. Stevens selling 350,000 shares for over $61 million, reducing his ownership by 4.52%.
• NVIDIA's stock has received multiple upgrades from analysts, with the target price rising to up to $228 and a consensus rating of "Moderate Buy."

Independent Wealth Network Inc. boosted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,645 shares of the computer hardware maker's stock after acquiring an additional 1,977 shares during the quarter. NVIDIA comprises about 1.5% of Independent Wealth Network Inc.'s holdings, making the stock its 12th largest holding. Independent Wealth Network Inc.'s holdings in NVIDIA were worth $4,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ascent Capital Management LLC boosted its holdings in NVIDIA by 1.5% in the 2nd quarter. Ascent Capital Management LLC now owns 18,897 shares of the computer hardware maker's stock worth $2,986,000 after acquiring an additional 281 shares during the period. TRU Independence Asset Management 2 LLC boosted its holdings in NVIDIA by 4.8% in the 2nd quarter. TRU Independence Asset Management 2 LLC now owns 9,763 shares of the computer hardware maker's stock worth $1,543,000 after acquiring an additional 446 shares during the period. Townsend Asset Management Corp NC ADV boosted its holdings in NVIDIA by 1.6% in the 2nd quarter. Townsend Asset Management Corp NC ADV now owns 25,194 shares of the computer hardware maker's stock worth $3,980,000 after acquiring an additional 395 shares during the period. John W. Brooker & Co. CPAs purchased a new position in NVIDIA in the 2nd quarter worth approximately $213,000. Finally, ORG Wealth Partners LLC raised its position in shares of NVIDIA by 7.7% in the 2nd quarter. ORG Wealth Partners LLC now owns 49,301 shares of the computer hardware maker's stock valued at $7,560,000 after purchasing an additional 3,542 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In other news, Director Mark A. Stevens sold 350,000 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the transaction, the director directly owned 7,399,803 shares of the company's stock, valued at approximately $1,305,251,251.17. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the transaction, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,775,379 shares of company stock valued at $665,883,171. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVDA shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NVIDIA in a research report on Wednesday. DA Davidson raised NVIDIA from a "neutral" rating to a "buy" rating and upped their target price for the company from $195.00 to $210.00 in a research report on Thursday, September 11th. Truist Financial upped their target price on NVIDIA from $210.00 to $228.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Piper Sandler set a $225.00 target price on NVIDIA and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, Benchmark upped their target price on NVIDIA from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $212.84.

NVIDIA Price Performance

Shares of NVDA opened at $192.57 on Friday. The company has a market cap of $4.68 trillion, a P/E ratio of 54.86, a PEG ratio of 1.37 and a beta of 2.12. The stock has a fifty day moving average price of $178.97 and a 200 day moving average price of $150.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $195.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $46.74 billion for the quarter, compared to analyst estimates of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The company's quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Thursday, September 11th. NVIDIA's dividend payout ratio (DPR) is 1.14%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.