American Financial & Tax Strategies Inc. Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

American Financial & Tax Strategies Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 814.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,377 shares of the computer hardware maker’s stock after purchasing an additional 2,117 shares during the period. American Financial & Tax Strategies Inc.’s holdings in NVIDIA were worth $294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. increased 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 valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.9 %

NVDA opened at $136.93 on Friday. 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 market cap of $3.37 trillion, a price-to-earnings ratio of 80.08, a PEG ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.89. The business’s fifty day moving average is $121.22 and its two-hundred day moving average is $111.86.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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 firm’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. Analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total value of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares in the company, valued at $9,569,997,238.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the completion of the sale, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at $9,569,997,238.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVDA shares. Evercore ISI boosted their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $142.46.

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.