Flagstone Financial Management acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,449 shares of the computer hardware maker’s stock, valued at approximately $303,000.
Several other large investors have also made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd 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 in the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter worth approximately $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Trading Down 0.0 %
NVIDIA stock opened at $119.10 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm’s 50-day moving average is $117.42 and its 200-day moving average is $105.74. 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 company has a market cap of $2.92 trillion, a P/E ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 analyst estimates of $28.74 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current year.
NVIDIA Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.
NVIDIA announced that its board has approved a stock repurchase plan 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NVDA. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective on the stock. in a research report on Friday, May 24th. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wolfe Research increased their target price on NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley boosted their price target on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” 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 one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.
Get Our Latest Analysis on NVDA
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold a total of 3,845,633 shares of company stock worth $465,330,122 in the last three months. 4.23% of the stock is owned by insiders.
NVIDIA Profile
(Free Report)
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.
See Also
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