IFG Advisory LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

IFG Advisory LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 837.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,293 shares of the computer hardware maker’s stock after acquiring an additional 156,600 shares during the quarter. NVIDIA accounts for approximately 1.4% of IFG Advisory LLC’s investment portfolio, making the stock its 12th biggest holding. IFG Advisory LLC’s holdings in NVIDIA were worth $21,656,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BCGM Wealth Management LLC lifted its stake in NVIDIA by 1,039.2% in the 2nd quarter. BCGM Wealth Management LLC now owns 15,972 shares of the computer hardware maker’s stock valued at $1,973,000 after buying an additional 14,570 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in NVIDIA by 921.4% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 513,974 shares of the computer hardware maker’s stock valued at $63,496,000 after buying an additional 463,655 shares in the last quarter. Private Ocean LLC lifted its stake in NVIDIA by 1,178.9% in the 2nd quarter. Private Ocean LLC now owns 21,447 shares of the computer hardware maker’s stock valued at $2,650,000 after buying an additional 19,770 shares in the last quarter. Viewpoint Capital Management LLC lifted its stake in NVIDIA by 887.9% in the 2nd quarter. Viewpoint Capital Management LLC now owns 69,814 shares of the computer hardware maker’s stock valued at $8,625,000 after buying an additional 62,747 shares in the last quarter. Finally, Citizens & Northern Corp lifted its stake in NVIDIA by 897.8% in the 2nd quarter. Citizens & Northern Corp now owns 86,181 shares of the computer hardware maker’s stock valued at $10,647,000 after buying an additional 77,544 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $121.40 on Friday. The stock has a market cap of $2.98 trillion, a P/E ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a fifty day simple moving average of $115.81 and a 200-day simple moving average of $107.87. NVIDIA Co. has a 12-month low of $39.23 and a 12-month 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 released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given 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 (DPR) is presently 2.34%.

NVIDIA declared that its board has approved a share 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 usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barclays cut their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold a total of 4,397,403 shares of company stock valued at $526,762,784 over the last ninety days. Insiders own 4.23% of the company’s stock.

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.