Yarger Wealth Strategies LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Yarger Wealth Strategies LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 919.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,925 shares of the computer hardware maker’s stock after acquiring an additional 11,657 shares during the quarter. Yarger Wealth Strategies LLC’s holdings in NVIDIA were worth $1,597,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the first quarter worth about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVDA opened at $138.00 on Monday. 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 $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89. The firm’s fifty day simple moving average is $121.88 and its two-hundred day simple moving average is $112.51.

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

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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. 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 news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. 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. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,876,270 shares of company stock valued at $333,061,527. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NVDA shares. UBS Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.