NVIDIA Co. (NASDAQ:NVDA) is Advisors Management Group Inc. ADV’s 4th Largest Position

Advisors Management Group Inc. ADV increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 876.1% in the second quarter, HoldingsChannel.com reports. The firm owned 97,435 shares of the computer hardware maker’s stock after acquiring an additional 87,453 shares during the quarter. NVIDIA accounts for 3.0% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 4th largest position. Advisors Management Group Inc. ADV’s holdings in NVIDIA were worth $12,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 2.1 %

Shares of NVDA stock opened at $121.40 on Friday. The firm’s 50 day moving average price is $115.88 and its two-hundred day moving average price is $108.23. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

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 given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent research reports. Mizuho raised their target price on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Argus raised their target price on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Melius Research raised their target price on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Tigress Financial lifted their price target on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the sale, the chief executive officer now owns 79,254,995 shares in the company, valued at $10,628,094,829.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 165,100 shares of NVIDIA 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 of the company’s stock, valued at approximately $1,021,107,588.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,397,403 shares of company stock valued at $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.