NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Range Financial Group LLC

Range Financial Group LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 920.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,784 shares of the computer hardware maker’s stock after purchasing an additional 51,217 shares during the period. NVIDIA accounts for about 3.6% of Range Financial Group LLC’s holdings, making the stock its 2nd biggest holding. Range Financial Group LLC’s holdings in NVIDIA were worth $7,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during 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 during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 1.7 %

Shares of NVIDIA stock opened at $124.92 on Friday. The company’s fifty day moving average price is $116.26 and its two-hundred day moving average price is $109.35. The firm has a market capitalization of $3.07 trillion, a PE ratio of 73.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $128.60, for a total transaction 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 approximately $10,223,056,357. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. 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 4,077,403 shares of company stock valued at $486,699,184 over the last three months. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. KeyCorp boosted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Susquehanna raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Needham & Company LLC lifted their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays reduced their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 10th. Finally, Raymond James increased their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.