Transamerica Financial Advisors Inc. Acquires 110,724 Shares of NVIDIA Co. (NASDAQ:NVDA)

Transamerica Financial Advisors Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 123,027 shares of the computer hardware maker’s stock after acquiring an additional 110,724 shares during the quarter. NVIDIA accounts for approximately 1.6% of Transamerica Financial Advisors Inc.’s portfolio, making the stock its 7th largest position. Transamerica Financial Advisors Inc.’s holdings in NVIDIA were worth $15,199,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Truepoint Inc. grew its position in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the period. Consolidated Planning Corp boosted its stake in shares of NVIDIA by 825.9% in the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after buying an additional 75,046 shares during the period. International Private Wealth Advisors LLC boosted its stake in shares of NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after buying an additional 7,028 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of NVIDIA by 898.4% in the second quarter. ProShare Advisors LLC now owns 15,857,702 shares of the computer hardware maker’s stock valued at $1,959,061,000 after buying an additional 14,269,378 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.8 %

Shares of NVDA stock opened at $141.54 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The firm has a market cap of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $124.25 and a 200-day moving average of $114.26.

NVIDIA (NASDAQ:NVDA) last released 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. The business 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%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. JPMorgan Chase & Co. boosted their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This represents 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 worth $305,367,927 in the last three months. Corporate insiders own 4.23% of the company’s stock.

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.