First Business Financial Services Inc. Buys 68,599 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Business Financial Services Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 987.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,543 shares of the computer hardware maker’s stock after purchasing an additional 68,599 shares during the quarter. NVIDIA makes up approximately 1.0% of First Business Financial Services Inc.’s holdings, making the stock its 13th biggest holding. First Business Financial Services Inc.’s holdings in NVIDIA were worth $9,333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the second 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 in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at $27,000. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. UBS Group lifted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Jefferies Financial Group raised their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Argus lifted their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Barclays cut their price target on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $128.60, for a total value of $15,432,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,494,995 shares of the company’s stock, valued at $10,223,056,357. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 8th. The shares were sold at an average price of $128.60, for a total transaction of $15,432,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,494,995 shares of the company’s stock, valued at $10,223,056,357. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,077,403 shares of company stock valued at $486,699,184 over the last 90 days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Up 1.7 %

NVDA stock opened at $124.92 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a market cap of $3.07 trillion, a price-to-earnings ratio of 73.05, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $116.26 and a two-hundred day moving average price of $109.35.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

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

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.