Eads & Heald Wealth Management Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Eads & Heald Wealth Management grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 873.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,864 shares of the computer hardware maker’s stock after purchasing an additional 53,713 shares during the quarter. NVIDIA makes up 3.6% of Eads & Heald Wealth Management’s portfolio, making the stock its largest holding. Eads & Heald Wealth Management’s holdings in NVIDIA were worth $7,396,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent analyst reports. Mizuho raised their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Argus increased their price objective on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective on the stock. in a research report on Friday, May 24th. Finally, KeyCorp boosted their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,845,633 shares of company stock worth $467,359,322 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 1.5 %

Shares of NVDA stock opened at $108.10 on Wednesday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The firm has a 50 day moving average price of $117.97 and a two-hundred day moving average price of $105.29. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.66 trillion, a PE ratio of 63.22, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67.

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

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About NVIDIA

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.