NVIDIA Co. (NASDAQ:NVDA) Stock Position Raised by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,026.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,447 shares of the computer hardware maker’s stock after buying an additional 3,141 shares during the period. Fortune Financial Advisors LLC’s holdings in NVIDIA were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after purchasing an additional 66,151,750 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in NVIDIA by 552.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 9,191,020 shares of the computer hardware maker’s stock valued at $1,135,459,000 after purchasing an additional 7,783,345 shares during the last quarter. Nicollet Investment Management Inc. raised its holdings in shares of NVIDIA by 875.0% during the second quarter. Nicollet Investment Management Inc. now owns 78,505 shares of the computer hardware maker’s stock valued at $9,699,000 after acquiring an additional 70,453 shares during the period. Linscomb Wealth Inc. raised its holdings in shares of NVIDIA by 1,170.9% during the second quarter. Linscomb Wealth Inc. now owns 10,587 shares of the computer hardware maker’s stock valued at $1,308,000 after acquiring an additional 9,754 shares during the period. Finally, Bahl & Gaynor Inc. increased its stake in NVIDIA by 872.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 44,470 shares of the computer hardware maker’s stock valued at $5,494,000 after buying an additional 39,897 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 2.4 %

Shares of NASDAQ NVDA opened at $138.07 on Tuesday. The firm has a market capitalization of $3.40 trillion, a PE ratio of 80.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. 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 Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm’s 50-day moving average is $119.30 and its 200-day moving average is $111.23.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.25 EPS. Equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred 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 transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $119.06, for a total transaction of $14,287,200.00. Following the transaction, the chief executive officer now directly owns 78,414,995 shares in the company, valued at $9,336,089,304.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,236,270 shares of company stock valued at $376,316,727 in the last 90 days. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

NVDA has been the topic of several research reports. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wedbush restated an “outperform” rating and set a $138.00 price target 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 issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.