NVIDIA Co. (NASDAQ:NVDA) is Tempus Wealth Planning LLC’s 3rd Largest Position

Tempus Wealth Planning LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 913.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,496 shares of the computer hardware maker’s stock after acquiring an additional 64,439 shares during the period. NVIDIA accounts for approximately 3.7% of Tempus Wealth Planning LLC’s holdings, making the stock its 3rd biggest holding. Tempus Wealth Planning LLC’s holdings in NVIDIA were worth $8,833,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its holdings 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 buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the transaction, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at $10,980,333,370.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Down 1.9 %

NVDA opened at $116.78 on Tuesday. The firm’s 50 day simple moving average is $117.19 and its two-hundred day simple moving average is $106.39. The company has a market capitalization of $2.87 trillion, a PE ratio of 68.29, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year 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 announced its 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 return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is 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 currently 2.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Barclays dropped their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Finally, UBS Group raised their price target on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. 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, the company has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA 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.