Ausdal Financial Partners Inc. Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Ausdal Financial Partners Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,981 shares of the computer hardware maker’s stock after acquiring an additional 3,360 shares during the period. NVIDIA makes up about 0.9% of Ausdal Financial Partners Inc.’s investment portfolio, making the stock its 17th largest position. Ausdal Financial Partners Inc.’s holdings in NVIDIA were worth $8,863,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the 2nd 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 during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter worth about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. KeyCorp lifted their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Finally, Bank of America upped their price target on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the sale, the chief executive officer now owns 76,614,995 shares of the company’s stock, valued at approximately $8,031,549,925.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the transaction, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,276,270 shares of company stock valued at $267,363,927. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 2.8 %

Shares of NASDAQ:NVDA opened at $139.91 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 65.62, a PEG ratio of 1.43 and a beta of 1.66. The stock’s 50-day moving average price is $125.68 and its two-hundred day moving average price is $117.05. NVIDIA Co. has a 12-month low of $44.90 and a 12-month high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About NVIDIA

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.