Paulson Wealth Management Inc. Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Paulson Wealth Management Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 935.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,489 shares of the computer hardware maker’s stock after acquiring an additional 6,766 shares during the quarter. Paulson Wealth Management Inc.’s holdings in NVIDIA were worth $925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the first quarter valued at about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter worth about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The transaction was disclosed in a 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 dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the sale, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,845,633 shares of company stock valued at $465,330,122 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC lifted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a research note on Monday, August 19th. Barclays reduced their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

Shares of NVDA opened at $115.59 on Wednesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The stock’s fifty day moving average is $116.88 and its 200-day moving average is $106.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 67.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

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.