New Century Financial Group LLC Acquires 36,634 Shares of NVIDIA Co. (NASDAQ:NVDA)

New Century Financial Group LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,249.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,567 shares of the computer hardware maker’s stock after acquiring an additional 36,634 shares during the period. NVIDIA makes up 2.1% of New Century Financial Group LLC’s portfolio, making the stock its 7th biggest holding. New Century Financial Group LLC’s holdings in NVIDIA were worth $4,888,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of 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 period. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was 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 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. In the last 90 days, insiders have sold 2,516,270 shares of company stock valued at $291,803,127. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.0 %

Shares of NVIDIA stock opened at $135.40 on Friday. NVIDIA Co. has a 1 year low of $42.89 and a 1 year high of $144.42. The firm has a market cap of $3.32 trillion, a PE ratio of 63.51, a PEG ratio of 1.47 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 company has a 50 day simple moving average of $125.25 and a two-hundred day simple moving average of $115.81.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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 given a $0.01 dividend. 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 1.88%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.