NVIDIA Co. (NASDAQ:NVDA) is Menard Financial Group LLC’s 2nd Largest Position

Menard Financial Group LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 942.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,606 shares of the computer hardware maker’s stock after acquiring an additional 85,530 shares during the period. NVIDIA comprises approximately 8.3% of Menard Financial Group LLC’s holdings, making the stock its 2nd largest position. Menard Financial Group LLC’s holdings in NVIDIA were worth $11,688,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. Banque Cantonale Vaudoise raised its holdings in NVIDIA by 0.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 124,562 shares of the computer hardware maker’s stock worth $112,550,000 after acquiring an additional 919 shares during the last quarter. Wedmont Private Capital raised its holdings in NVIDIA by 3.1% in the 1st quarter. Wedmont Private Capital now owns 31,727 shares of the computer hardware maker’s stock worth $27,080,000 after acquiring an additional 943 shares during the last quarter. Bank of New Hampshire raised its holdings in NVIDIA by 5.7% in the 1st quarter. Bank of New Hampshire now owns 4,529 shares of the computer hardware maker’s stock worth $4,092,000 after acquiring an additional 244 shares during the last quarter. KMG Fiduciary Partners LLC raised its holdings in NVIDIA by 11.9% in the 1st quarter. KMG Fiduciary Partners LLC now owns 41,399 shares of the computer hardware maker’s stock worth $37,406,000 after acquiring an additional 4,393 shares during the last quarter. Finally, Legacy Financial Strategies LLC raised its holdings in NVIDIA by 8.2% in the 1st quarter. Legacy Financial Strategies LLC now owns 3,374 shares of the computer hardware maker’s stock worth $3,049,000 after acquiring an additional 256 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ NVDA opened at $138.00 on Friday. The firm’s 50-day moving average price is $121.88 and its 200-day moving average price is $112.35. 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 market capitalization of $3.39 trillion, a price-to-earnings ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 1.88%.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVDA. Truist Financial boosted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five 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 stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the transaction, the chief executive officer now directly owns 78,294,995 shares in the company, valued at approximately $9,569,997,238.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the transaction, the chief executive officer now directly owns 78,294,995 shares in the company, valued at approximately $9,569,997,238.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is currently owned by corporate insiders.

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.