Evernest Financial Advisors LLC Has $7.27 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Evernest Financial Advisors LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 338.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 58,840 shares of the computer hardware maker’s stock after buying an additional 45,433 shares during the quarter. NVIDIA comprises about 3.3% of Evernest Financial Advisors LLC’s investment portfolio, making the stock its 9th largest position. Evernest Financial Advisors LLC’s holdings in NVIDIA were worth $7,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA in the first quarter worth about $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA in the first quarter worth approximately $45,000. Finally, Coston McIsaac & Partners grew its holdings in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 0.0 %

NASDAQ:NVDA opened at $134.80 on Monday. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. 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 stock has a fifty day simple moving average of $118.54 and a 200-day simple moving average of $110.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Analysts anticipate 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. Shareholders 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 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Tigress Financial lifted their price objective on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, Truist Financial increased their price objective 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. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.46.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the transaction, the chief executive officer now owns 78,654,995 shares of the company’s stock, valued at approximately $9,373,315,754.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total value of $14,300,400.00. Following the sale, the chief executive officer now directly owns 78,654,995 shares in the company, valued at approximately $9,373,315,754.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,236,270 shares of company stock valued at $376,316,727 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.