Farrell Financial LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Farrell Financial LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,823 shares of the computer hardware maker’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its holdings 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 acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Raymond James raised their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a research report on Thursday, September 5th. Truist Financial increased their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Wolfe Research lifted their price target on shares of NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $142.10.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. In the last three months, insiders sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Up 1.9 %

NVDA stock opened at $119.14 on Friday. The company’s 50 day moving average is $117.55 and its 200 day moving average is $105.46. The stock 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 current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. 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 analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.