Better Money Decisions LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Better Money Decisions LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,146.6% in the second quarter, HoldingsChannel reports. The firm owned 9,063 shares of the computer hardware maker’s stock after acquiring an additional 8,336 shares during the quarter. NVIDIA accounts for 0.8% of Better Money Decisions LLC’s portfolio, making the stock its 24th biggest position. Better Money Decisions LLC’s holdings in NVIDIA were worth $1,120,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of 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 acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $119.14 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a 50-day simple moving average of $117.55 and a 200-day simple moving average of $105.46. The stock has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.67, a PEG ratio of 0.93 and a beta of 1.67.

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

NVIDIA Cuts Dividend

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

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. KeyCorp upped their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Citigroup increased their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Wedbush restated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Argus increased their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, UBS Group boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of 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. In the last quarter, insiders sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by insiders.

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.