Farther Finance Advisors LLC Has $94.28 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Farther Finance Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,029.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 758,488 shares of the computer hardware maker’s stock after acquiring an additional 691,357 shares during the period. NVIDIA makes up about 4.6% of Farther Finance Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Farther Finance Advisors LLC’s holdings in NVIDIA were worth $94,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA in the 1st quarter valued at about $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its position in shares of NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Argus lifted their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Truist Financial lifted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The disclosure for this sale can be found here. Insiders have sold 4,397,403 shares of company stock valued at $526,762,784 in the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 2.1 %

Shares of NVIDIA stock opened at $121.40 on Friday. The firm has a market capitalization of $2.99 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. 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 firm’s 50 day moving average is $115.88 and its 200 day moving average is $108.23. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

About NVIDIA

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.