Legacy Financial Group Inc. Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Legacy Financial Group Inc. increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 984.4% in the second quarter, Holdings Channel.com reports. The firm owned 15,387 shares of the computer hardware maker’s stock after purchasing an additional 13,968 shares during the period. Legacy Financial Group Inc.’s holdings in NVIDIA were worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted 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 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 $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,876,270 shares of company stock worth $333,061,527 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. KeyCorp lifted their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. UBS Group restated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Up 4.1 %

Shares of NVIDIA stock opened at $143.71 on Tuesday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $143.71. The firm has a market cap of $3.53 trillion, a P/E ratio of 67.41, a P/E/G ratio of 1.25 and a beta of 1.67. The business has a 50-day moving average price of $122.58 and a 200 day moving average price of $112.92. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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.