Archer Investment Corp Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Archer Investment Corp boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 903.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,326 shares of the computer hardware maker’s stock after purchasing an additional 27,303 shares during the period. NVIDIA comprises 1.1% of Archer Investment Corp’s portfolio, making the stock its 17th largest position. Archer Investment Corp’s holdings in NVIDIA were worth $3,746,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in 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 in the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 3.4 %

Shares of NASDAQ:NVDA opened at $122.85 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a market capitalization of $3.02 trillion, a PE ratio of 71.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a fifty day moving average of $116.03 and a 200-day moving average of $108.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 8th. The shares were sold at an average price of $128.60, for a total transaction of $15,432,000.00. Following the transaction, the chief executive officer now directly owns 79,494,995 shares of the company’s stock, valued at approximately $10,223,056,357. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated 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 $57,370,572.59. The disclosure for this sale can be found here. Insiders sold a total of 4,077,403 shares of company stock valued at $486,699,184 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVDA. Barclays dropped their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Monday, August 19th. Tigress Financial raised their target price on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Melius Research boosted their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.