Vishria Bird Financial Group LLC Acquires 2,410 Shares of NVIDIA Co. (NASDAQ:NVDA)

Vishria Bird Financial Group LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 803.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,710 shares of the computer hardware maker’s stock after purchasing an additional 2,410 shares during the period. Vishria Bird Financial Group LLC’s holdings in NVIDIA were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of NVIDIA by 978.1% during the second quarter. Geneos Wealth Management Inc. now owns 149,149 shares of the computer hardware maker’s stock valued at $18,426,000 after purchasing an additional 135,314 shares in the last quarter. Bridge Advisory LLC increased its stake in shares of NVIDIA by 1,011.5% during the second quarter. Bridge Advisory LLC now owns 14,839 shares of the computer hardware maker’s stock valued at $1,833,000 after purchasing an additional 13,504 shares in the last quarter. Tevis Investment Management increased its stake in shares of NVIDIA by 1,132.0% during the second quarter. Tevis Investment Management now owns 14,230 shares of the computer hardware maker’s stock valued at $1,758,000 after purchasing an additional 13,075 shares in the last quarter. Sandy Cove Advisors LLC increased its stake in shares of NVIDIA by 799.9% during the second quarter. Sandy Cove Advisors LLC now owns 15,884 shares of the computer hardware maker’s stock valued at $1,962,000 after purchasing an additional 14,119 shares in the last quarter. Finally, Trust Co of Kansas bought a new stake in shares of NVIDIA during the second quarter valued at approximately $256,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 8.1 %

Shares of NVDA stock opened at $116.91 on Thursday. The stock has a market cap of $2.88 trillion, a P/E ratio of 68.37, a PEG ratio of 0.93 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. 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’s fifty day simple moving average is $117.74 and its two-hundred day simple moving average is $105.37.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. DZ Bank lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective for the company. in a report on Friday, May 24th. Finally, TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,725,633 shares of company stock worth $451,910,522. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA 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.