Smith Chas P & Associates PA Cpas Purchases 15,331 Shares of NVIDIA Co. (NASDAQ:NVDA)

Smith Chas P & Associates PA Cpas increased its position in NVIDIA Co. (NASDAQ:NVDA) by 1,025.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,826 shares of the computer hardware maker’s stock after acquiring an additional 15,331 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in NVIDIA were worth $2,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter worth approximately $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth approximately $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners boosted its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Needham & Company LLC upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Mizuho lifted their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James upped their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Robert W. Baird lifted their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five research 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Down 1.6 %

Shares of NVDA opened at $116.00 on Monday. The stock’s fifty day simple moving average is $115.99 and its 200-day simple moving average is $107.24. The firm has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. As a group, research analysts predict 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 issued a $0.01 dividend. 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 presently 2.34%.

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,472,303 shares of company stock valued at $417,461,507. 4.23% of the stock is currently owned by company 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.