PFG Advisors Has $21.21 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

PFG Advisors increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 920.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,659 shares of the computer hardware maker’s stock after acquiring an additional 154,829 shares during the quarter. NVIDIA comprises about 1.4% of PFG Advisors’ investment portfolio, making the stock its 8th biggest holding. PFG Advisors’ holdings in NVIDIA were worth $21,207,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. grew its position in NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after acquiring an additional 66,151,750 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of NVIDIA by 829.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. HSBC raised their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Raymond James increased their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial increased their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America reiterated a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th. Five 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Stock Up 2.4 %

Shares of NVDA opened at $138.07 on Tuesday. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 80.74, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. 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 has a fifty day moving average price of $119.30 and a 200-day moving average price of $111.23.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total value of $14,300,400.00. Following the completion of the sale, the chief executive officer now directly owns 78,654,995 shares in the company, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total value of $14,300,400.00. Following the completion of the sale, the chief executive officer now directly owns 78,654,995 shares in the company, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,236,270 shares of company stock valued at $376,316,727. 4.23% of the stock is currently owned by company insiders.

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.