Etfidea LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Etfidea LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,105.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,571 shares of the computer hardware maker’s stock after purchasing an additional 6,026 shares during the quarter. Etfidea LLC’s holdings in NVIDIA were worth $812,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Down 2.8 %

Shares of NASDAQ NVDA opened at $139.56 on Thursday. The business has a fifty day moving average price of $123.56 and a 200 day moving average price of $113.50. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. 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 other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now owns 77,814,995 shares in the company, valued at approximately $8,835,114,532.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,756,270 shares of company stock valued at $318,992,727. 4.23% of the stock is currently owned by insiders.

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.