GGM Financials LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

GGM Financials LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 9,908 shares of the computer hardware maker’s stock, valued at approximately $1,224,000. NVIDIA comprises approximately 1.1% of GGM Financials LLC’s portfolio, making the stock its 14th biggest position.

Several other institutional investors have also modified their holdings of the stock. BLB&B Advisors LLC raised its holdings in shares of NVIDIA by 843.8% in the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after buying an additional 510,294 shares during the period. Cypress Point Wealth Management LLC increased its stake in NVIDIA by 772.8% during the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after purchasing an additional 5,294 shares during the period. McAdam LLC lifted its position in shares of NVIDIA by 945.0% during the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after purchasing an additional 76,517 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its stake in shares of NVIDIA by 752.9% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock valued at $7,006,000 after purchasing an additional 50,070 shares during the period. Finally, Perennial Advisors LLC boosted its stake in shares of NVIDIA by 910.9% in the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock valued at $18,264,000 after purchasing an additional 133,213 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The disclosure for this sale can be found here. Insiders have sold 4,352,303 shares of company stock valued at $521,745,907 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. DA Davidson reiterated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Mizuho upped their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

Shares of NVDA opened at $123.51 on Thursday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market cap of $3.03 trillion, a PE ratio of 72.23, a P/E/G ratio of 1.05 and a beta of 1.67. The stock has a 50-day moving average of $115.64 and a 200-day moving average of $107.64. 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 posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

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.