NVIDIA Co. (NASDAQ:NVDA) is Patriot Financial Group Insurance Agency LLC’s 7th Largest Position

Patriot Financial Group Insurance Agency LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 746.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 100,624 shares of the computer hardware maker’s stock after acquiring an additional 88,732 shares during the period. NVIDIA makes up approximately 1.8% of Patriot Financial Group Insurance Agency LLC’s portfolio, making the stock its 7th largest position. Patriot Financial Group Insurance Agency LLC’s holdings in NVIDIA were worth $12,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners increased its stake in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp upped their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Finally, Evercore ISI boosted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 385,000 shares of the firm’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 completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the sale, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. Insiders have sold 3,621,133 shares of company stock valued at $435,749,957 in the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 4.0 %

NASDAQ:NVDA opened at $117.87 on Friday. The business’s 50-day moving average is $116.25 and its two-hundred day moving average is $106.75. The firm has a market capitalization of $2.90 trillion, a PE ratio of 68.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the company posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

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.