Paragon Capital Management Inc. Buys 17,967 Shares of NVIDIA Co. (NASDAQ:NVDA)

Paragon Capital Management Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 827.2% during the second quarter, Holdings Channel.com reports. The fund owned 20,139 shares of the computer hardware maker’s stock after purchasing an additional 17,967 shares during the period. NVIDIA accounts for about 1.9% of Paragon Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Paragon Capital Management Inc.’s holdings in NVIDIA were worth $2,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth approximately $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $135.40 on Monday. The company has a market capitalization of $3.32 trillion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a one year low of $42.89 and a one year high of $144.42. 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’s fifty day moving average price is $125.25 and its 200 day moving average price is $116.24.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.25 EPS. As a group, analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication 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. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $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 have sold 2,396,270 shares of company stock worth $279,825,927 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVDA shares. Sanford C. Bernstein raised their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.