Clearview Wealth Advisors LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Clearview Wealth Advisors LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 780.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,186 shares of the computer hardware maker’s stock after purchasing an additional 6,370 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in NVIDIA were worth $888,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Iyo Bank Ltd. boosted its holdings in NVIDIA by 900.0% in the second quarter. Iyo Bank Ltd. now owns 353,600 shares of the computer hardware maker’s stock worth $43,684,000 after purchasing an additional 318,240 shares during the period. PayPay Securities Corp increased its position in shares of NVIDIA by 309.2% during the 2nd quarter. PayPay Securities Corp now owns 753 shares of the computer hardware maker’s stock valued at $93,000 after purchasing an additional 569 shares during the period. Drive Wealth Management LLC boosted its position in shares of NVIDIA by 924.9% during the 2nd quarter. Drive Wealth Management LLC now owns 73,986 shares of the computer hardware maker’s stock valued at $9,140,000 after purchasing an additional 66,767 shares in the last quarter. JPL Wealth Management LLC increased its holdings in shares of NVIDIA by 1,132.6% in the second quarter. JPL Wealth Management LLC now owns 22,655 shares of the computer hardware maker’s stock valued at $2,799,000 after buying an additional 20,817 shares in the last quarter. Finally, Capital Management Associates Inc lifted its position in shares of NVIDIA by 957.5% during the 2nd quarter. Capital Management Associates Inc now owns 5,890 shares of the computer hardware maker’s stock valued at $728,000 after acquiring an additional 5,333 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial lifted their price target 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. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Bank of America restated a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the sale, the chief executive officer now directly owns 79,734,995 shares in the company, valued at $9,909,465,178.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction dated 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 $1,021,107,588.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,734,995 shares in the company, valued at $9,909,465,178.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,277,403 shares of company stock valued at $512,029,184. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NVDA opened at $121.44 on Tuesday. 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 stock has a market cap of $2.99 trillion, a P/E ratio of 71.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The stock’s 50-day moving average price is $115.83 and its two-hundred day moving average price is $108.59. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid 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 dividend payout ratio is 2.34%.

NVIDIA declared that its board has approved a stock repurchase plan 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.