First Heartland Consultants Inc. Purchases 89,655 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Heartland Consultants Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 943.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,160 shares of the computer hardware maker’s stock after buying an additional 89,655 shares during the quarter. NVIDIA accounts for approximately 0.9% of First Heartland Consultants Inc.’s holdings, making the stock its 19th biggest holding. First Heartland Consultants Inc.’s holdings in NVIDIA were worth $12,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings 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 valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Insiders have sold 3,845,633 shares of company stock valued at $465,330,122 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.9 %

NVDA stock opened at $116.78 on Tuesday. 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 $2.87 trillion, a P/E ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The business has a 50-day moving average of $117.19 and a 200-day moving average of $106.39.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group boosted their target price on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Argus increased their target price on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Needham & Company LLC raised their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Finally, DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

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.