Pathway Financial Advisors LLC Buys 21,240 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pathway Financial Advisors LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 922.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,542 shares of the computer hardware maker’s stock after purchasing an additional 21,240 shares during the period. NVIDIA makes up 0.8% of Pathway Financial Advisors LLC’s portfolio, making the stock its 21st largest holding. Pathway Financial Advisors LLC’s holdings in NVIDIA were worth $2,908,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVDA. Hamilton Wealth LLC increased 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 valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC grew its position in shares of NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after buying an additional 12 shares during the last quarter. Curran Financial Partners LLC grew its position in shares of NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after buying an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC grew its position in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after buying an additional 12 shares during the last quarter. Finally, M. Kraus & Co grew its position in shares of NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 approximately $7,694,851,450.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,845,633 shares of company stock valued at $465,330,122. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. UBS Group lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a research report on Monday, May 20th. HSBC lifted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Argus lifted their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Morgan Stanley lifted their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

NASDAQ:NVDA opened at $119.14 on Friday. 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 firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67. The company has a 50 day moving average price of $117.55 and a 200-day moving average price of $105.46. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 company 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 firm’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

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.