NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by First Pacific Financial

First Pacific Financial increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 38.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,442 shares of the computer hardware maker’s stock after purchasing an additional 5,150 shares during the quarter. NVIDIA comprises about 0.5% of First Pacific Financial’s portfolio, making the stock its 25th biggest holding. First Pacific Financial’s holdings in NVIDIA were worth $2,240,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the period. Beacon Bridge Wealth Partners LLC boosted its holdings in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the period. Poehling Capital Management INC. grew its position in NVIDIA by 0.9% during the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after purchasing an additional 14 shares in the last quarter. FSA Wealth Management LLC increased its stake in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares during the period. Finally, Clean Yield Group lifted its position in NVIDIA by 0.8% in the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVDA. The Goldman Sachs Group upped their price target 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. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday. Finally, DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Trading Down 1.3 %

NVIDIA stock opened at $140.15 on Tuesday. The business has a 50 day moving average price of $131.64 and a two-hundred day moving average price of $120.96. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

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.