Onyx Bridge Wealth Group LLC Buys 3,190 Shares of NVIDIA Corporation $NVDA

Key Points

• Onyx Bridge Wealth Group increased its NVIDIA stake by 3,190 shares, or 3.1%, to 106,202 shares valued at about $24.3 million; the stock represents 2.1% of its portfolio.
• NVIDIA beat quarterly earnings and revenue estimates, reporting EPS of $2.22 and revenue of $96.22 billion, up 105.9% year over year. The company also authorized a $150 billion share buyback.
• Shares traded at $162.85 in the article, while analyst views were mixed: HSBC downgraded the stock to Hold with a $170 target, though the consensus rating remained Moderate Buy.

Onyx Bridge Wealth Group LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,202 shares of the computer hardware maker's stock after purchasing an additional 3,190 shares during the quarter. NVIDIA accounts for approximately 2.1% of Onyx Bridge Wealth Group LLC's portfolio, making the stock its 11th largest position. Onyx Bridge Wealth Group LLC's holdings in NVIDIA were worth $24,255,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Boyd Wealth Management LLC raised its stake in NVIDIA by 273.4% during the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker's stock valued at $1,830,000 after acquiring an additional 6,696 shares during the last quarter. Ally Financial Inc. lifted its stake in shares of NVIDIA by 10.3% in the 2nd quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker's stock worth $34,415,000 after acquiring an additional 16,000 shares during the period. Altshuler Shaham Ltd boosted its holdings in shares of NVIDIA by 6,451.9% in the first quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker's stock valued at $111,134,000 after acquiring an additional 627,510 shares in the last quarter. Vanguard Capital Wealth Advisors boosted its holdings in shares of NVIDIA by 5.6% in the second quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker's stock valued at $10,437,000 after acquiring an additional 2,758 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of NVIDIA by 7.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker's stock valued at $14,386,000 after acquiring an additional 4,958 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA traded down $3.34 during trading hours on Friday, reaching $162.85. 363,372,273 shares of the company traded hands, compared to its average volume of 196,617,360. NVIDIA Corporation has a fifty-two week low of $148.80 and a fifty-two week high of $243.37. The stock has a market capitalization of $3.92 trillion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.28 and a beta of 2.21. The stock has a fifty day simple moving average of $214.64 and a 200 day simple moving average of $204.12. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analysts' expectations of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business's revenue was up 105.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, research analysts predict that NVIDIA Corporation will post 9.29 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share buyback plan on Monday, September 28th that permits the company to repurchase $150 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Share buyback plans are often a sign that the company's leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a yield of 0.6%. NVIDIA's dividend payout ratio is 12.64%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark Stevens sold 622,239 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $231.62, for a total value of $144,122,997.18. Following the sale, the director directly owned 2,336,531 shares of the company's stock, valued at approximately $541,187,310.22. This trade represents a 21.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 34,918 shares of NVIDIA stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $219.05, for a total value of $7,648,787.90. Following the completion of the sale, the chief financial officer owned 765,103 shares of the company's stock, valued at $167,595,812.15. This trade represents a 4.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. Insiders own 3.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVDA shares. Deutsche Bank reiterated a "buy" rating on shares of NVIDIA in a research note on Monday, August 31st. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $170.00 price objective for the company. in a research report on Friday. Bank of America lowered their price objective on NVIDIA from $350.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday. China Renaissance boosted their target price on NVIDIA from $319.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. Finally, Rothschild & Co Redburn boosted their target price on NVIDIA from $300.00 to $325.00 in a research report on Thursday, August 27th. Five research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $277.89.

Top NVIDIA Stories

Here are a few of the latest stories about NVDA:

• Positive Sentiment: Despite cutting its price target to $300, Rosenblatt Securities maintained a Buy rating; other coverage also points to continued investor optimism about NVIDIA’s long-term growth potential. Rosenblatt Securities rating
• Negative Sentiment: Reports connecting the leadership scandal to scrutiny of possible chip diversions to China have raised risks of regulatory action and reputational damage. The allegations remain under investigation, while U.S. lawmakers are seeking testimony. Congressional scrutiny
• Negative Sentiment: HSBC downgraded NVIDIA to Hold with a $170 target, and several firms have reduced price targets. Analysts also warn that leadership uncertainty could give chip rivals more opportunity to win business. HSBC downgrade coverage

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA's offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.

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