NVIDIA Co. (NASDAQ:NVDA) is Martin Capital Advisors LLP’s 4th Largest Position

Martin Capital Advisors LLP raised its position in NVIDIA Co. (NASDAQ:NVDA) by 750.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,670 shares of the computer hardware maker’s stock after buying an additional 50,006 shares during the period. NVIDIA comprises 5.3% of Martin Capital Advisors LLP’s investment portfolio, making the stock its 4th biggest position. Martin Capital Advisors LLP’s holdings in NVIDIA were worth $7,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the second 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 last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter worth about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Robert W. Baird boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Five investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Trading Down 2.1 %

Shares of NASDAQ:NVDA opened at $121.40 on Friday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company’s 50 day moving average is $115.81 and its two-hundred day moving average is $107.87. 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 $2.98 trillion, a PE ratio of 70.99, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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 on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,397,403 shares of company stock worth $526,762,784. Corporate insiders own 4.23% of the company’s stock.

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.