Asset Planning Corporation Has $415,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Asset Planning Corporation increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 900.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,362 shares of the computer hardware maker’s stock after purchasing an additional 3,026 shares during the quarter. NVIDIA makes up 0.3% of Asset Planning Corporation’s investment portfolio, making the stock its 29th largest holding. Asset Planning Corporation’s holdings in NVIDIA were worth $415,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in NVDA. Lafayette Investments Inc. increased its position in NVIDIA by 901.8% in the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after buying an additional 5,140 shares during the period. BLB&B Advisors LLC increased its position in shares of NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after purchasing an additional 510,294 shares during the period. Cypress Point Wealth Management LLC increased its position in shares of 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 valued at $739,000 after purchasing an additional 5,294 shares during the period. McAdam LLC increased 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 valued at $10,453,000 after purchasing an additional 76,517 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its position in shares of NVIDIA by 863.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 429,618 shares of the computer hardware maker’s stock valued at $53,075,000 after purchasing an additional 385,015 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $121.40 on Friday. The stock has a market cap of $2.99 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. The stock has a 50 day simple moving average of $115.88 and a 200 day simple moving average of $108.23. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has authorized a stock buyback plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the transaction, the chief executive officer now owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold a total of 4,397,403 shares of company stock worth $526,762,784 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America reiterated a “buy” rating and issued a $165.00 price target on shares of NVIDIA in a research report on Thursday, September 5th. Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Finally, Raymond James upped their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Five research 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’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.