Jaffetilchin Investment Partners LLC Has $53.08 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Jaffetilchin Investment Partners LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 863.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 429,618 shares of the computer hardware maker’s stock after buying an additional 385,015 shares during the period. NVIDIA makes up 4.5% of Jaffetilchin Investment Partners LLC’s holdings, making the stock its 4th largest position. Jaffetilchin Investment Partners LLC’s holdings in NVIDIA were worth $53,075,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVDA. Morton Brown Family Wealth LLC grew its holdings in NVIDIA by 951.8% during the second quarter. Morton Brown Family Wealth LLC now owns 3,250 shares of the computer hardware maker’s stock worth $394,000 after acquiring an additional 2,941 shares during the period. Benedict Financial Advisors Inc. grew its stake in shares of NVIDIA by 870.9% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 15,593 shares of the computer hardware maker’s stock worth $1,926,000 after purchasing an additional 13,987 shares during the last quarter. Matisse Capital grew its stake in shares of NVIDIA by 425.7% in the 2nd quarter. Matisse Capital now owns 7,228 shares of the computer hardware maker’s stock worth $893,000 after purchasing an additional 5,853 shares during the last quarter. Mosaic Advisors LLC lifted its stake in NVIDIA by 1,812.4% during the second quarter. Mosaic Advisors LLC now owns 7,554 shares of the computer hardware maker’s stock valued at $933,000 after purchasing an additional 7,159 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in NVIDIA by 761.8% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 265,533 shares of the computer hardware maker’s stock valued at $32,804,000 after purchasing an additional 234,721 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVDA shares. Westpark Capital upped their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. KeyCorp boosted their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Melius Research increased their price target on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, HSBC raised their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have given 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

NASDAQ NVDA opened at $124.04 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a fifty day simple moving average of $115.75 and a 200 day simple moving average of $107.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.04 trillion, a P/E ratio of 72.54, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

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

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total value of $14,733,600.00. Following the sale, the chief executive officer now owns 79,974,995 shares in the company, valued at $9,819,329,886.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total value of $14,733,600.00. Following the completion of the sale, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at approximately $9,819,329,886.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The disclosure for this sale can be found here. Insiders sold a total of 4,397,403 shares of company stock worth $526,762,784 over the last three months. 4.23% of the stock is currently owned by 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.