Williams Financial LLC Acquires Shares of 6,509 NVIDIA Co. (NASDAQ:NVDA)

Williams Financial LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,509 shares of the computer hardware maker’s stock, valued at approximately $804,000.

A number of other hedge funds also recently modified their holdings of the stock. Lyell Wealth Management LP grew its stake in NVIDIA by 848.5% during the second quarter. Lyell Wealth Management LP now owns 654,764 shares of the computer hardware maker’s stock worth $80,890,000 after buying an additional 585,729 shares in the last quarter. SilverOak Wealth Management LLC boosted its position in shares of NVIDIA by 853.6% during the 2nd quarter. SilverOak Wealth Management LLC now owns 9,746 shares of the computer hardware maker’s stock worth $1,204,000 after acquiring an additional 8,724 shares in the last quarter. Guardian Wealth Management Inc. bought a new position in NVIDIA in the second quarter valued at approximately $46,000. J.W. Cole Advisors Inc. raised its position in NVIDIA by 1,095.7% during the second quarter. J.W. Cole Advisors Inc. now owns 395,632 shares of the computer hardware maker’s stock valued at $48,876,000 after purchasing an additional 362,543 shares in the last quarter. Finally, Alta Advisers Ltd lifted its stake in NVIDIA by 916.2% during the second quarter. Alta Advisers Ltd now owns 69,100 shares of the computer hardware maker’s stock worth $8,537,000 after purchasing an additional 62,300 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Citigroup lifted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Wedbush reissued an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

NVIDIA Trading Up 0.9 %

NASDAQ NVDA opened at $136.93 on Friday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89. The business has a 50 day moving average price of $121.22 and a 200-day moving average price of $111.86. 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 company has a market cap of $3.37 trillion, a price-to-earnings ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has authorized a stock buyback program 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. 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 2,996,270 shares of company stock valued at $347,729,127 over the last 90 days. Insiders own 4.23% of the company’s stock.

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.