Client 1ST Advisory Group LLC Purchases 7,439 Shares of NVIDIA Co. (NASDAQ:NVDA)

Client 1ST Advisory Group LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 928.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,240 shares of the computer hardware maker’s stock after purchasing an additional 7,439 shares during the period. Client 1ST Advisory Group LLC’s holdings in NVIDIA were worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter worth $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter worth $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,116,270 shares of company stock worth $362,016,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $135.72 on Thursday. The company has a 50 day moving average of $120.58 and a 200 day moving average of $111.69. The stock has a market cap of $3.34 trillion, a P/E ratio of 79.37, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 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.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often 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 $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVDA shares. Wedbush reiterated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Needham & Company LLC lifted their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.