NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by TFC Financial Management Inc.

TFC Financial Management Inc. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 884.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,307 shares of the computer hardware maker’s stock after acquiring an additional 20,040 shares during the period. NVIDIA makes up approximately 0.5% of TFC Financial Management Inc.’s investment portfolio, making the stock its 21st largest position. TFC Financial Management Inc.’s holdings in NVIDIA were worth $2,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold a total of 3,725,633 shares of company stock worth $454,719,722 in the last three months. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Wolfe Research lifted their price target on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Benchmark restated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. DZ Bank cut NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price target for the company. in a report on Friday, May 24th. Finally, Robert W. Baird lifted their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $106.47 on Tuesday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 62.26, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67. The business has a 50 day simple moving average of $118.26 and a 200-day simple moving average of $105.08.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has initiated a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is currently 2.34%.

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.