Legacy Financial Advisors Inc. Buys 91,846 Shares of NVIDIA Co. (NASDAQ:NVDA)

Legacy Financial Advisors Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 943.9% in the 2nd quarter, Holdings Channel reports. The firm owned 101,576 shares of the computer hardware maker’s stock after acquiring an additional 91,846 shares during the period. NVIDIA makes up 2.2% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 12th largest holding. Legacy Financial Advisors Inc.’s holdings in NVIDIA were worth $12,549,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ensign Peak Advisors Inc lifted its position in shares of NVIDIA by 883.2% in the second quarter. Ensign Peak Advisors Inc now owns 26,717,999 shares of the computer hardware maker’s stock worth $3,300,742,000 after buying an additional 24,000,487 shares in the last quarter. Octahedron Capital Management L.P. increased its stake in NVIDIA by 233.3% in the 2nd quarter. Octahedron Capital Management L.P. now owns 3,500 shares of the computer hardware maker’s stock worth $432,000 after acquiring an additional 2,450 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after acquiring an additional 208,362 shares in the last quarter. Tcwp LLC boosted its position in shares of NVIDIA by 890.3% during the 2nd quarter. Tcwp LLC now owns 19,607 shares of the computer hardware maker’s stock valued at $2,422,000 after acquiring an additional 17,627 shares during the last quarter. Finally, Bulltick Wealth Management LLC grew its holdings in shares of NVIDIA by 891.8% in the second quarter. Bulltick Wealth Management LLC now owns 31,718 shares of the computer hardware maker’s stock valued at $3,918,000 after purchasing an additional 28,520 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $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. Insiders sold 2,636,270 shares of company stock valued at $305,367,927 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Needham & Company LLC lifted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Price Performance

NVDA opened at $140.41 on Friday. The firm has a market capitalization of $3.44 trillion, a PE ratio of 65.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business’s 50-day moving average is $123.56 and its two-hundred day moving average is $113.50. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42.

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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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.