Whelan Financial Buys 13,497 Shares of NVIDIA Co. (NASDAQ:NVDA)

Whelan Financial increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,129.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,692 shares of the computer hardware maker’s stock after acquiring an additional 13,497 shares during the period. NVIDIA comprises 0.8% of Whelan Financial’s investment portfolio, making the stock its 12th biggest position. Whelan Financial’s holdings in NVIDIA were worth $1,815,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its holdings 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 during the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a research report on Monday, August 19th. Bank of America reiterated a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. KeyCorp raised their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Argus upped their price target on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $116.00 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50-day moving average of $115.99 and a 200-day moving average of $107.24. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, sell-side 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. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $125.04, for a total value of $15,004,800.00. Following the sale, the chief executive officer now directly owns 80,094,995 shares of the company’s stock, valued at approximately $10,015,078,174.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the transaction, the chief executive officer now directly owns 80,094,995 shares of the company’s stock, valued at approximately $10,015,078,174.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. Insiders sold a total of 3,472,303 shares of company stock valued at $417,461,507 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.