Fairway Wealth LLC Acquires New Position in NVIDIA Co. (NASDAQ:NVDA)

Fairway Wealth LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the computer hardware maker’s stock, valued at approximately $247,000.

Several other large investors have also recently added to or reduced their stakes in NVDA. Firestone Capital Management bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $270,000. Abbot Financial Management Inc. increased its position in NVIDIA by 813.9% in the 2nd quarter. Abbot Financial Management Inc. now owns 80,253 shares of the computer hardware maker’s stock valued at $9,914,000 after acquiring an additional 71,472 shares during the period. Connors Investor Services Inc. boosted its position in NVIDIA by 1,013.6% during the 2nd quarter. Connors Investor Services Inc. now owns 231,725 shares of the computer hardware maker’s stock worth $28,627,000 after acquiring an additional 210,917 shares during the period. Pitti Group Wealth Management LLC increased its holdings in shares of NVIDIA by 14.8% during the second quarter. Pitti Group Wealth Management LLC now owns 2,193 shares of the computer hardware maker’s stock valued at $271,000 after purchasing an additional 282 shares during the period. Finally, Yarger Wealth Strategies LLC increased its holdings in shares of NVIDIA by 919.3% during the second quarter. Yarger Wealth Strategies LLC now owns 12,925 shares of the computer hardware maker’s stock valued at $1,597,000 after purchasing an additional 11,657 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on 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 owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now 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. Over the last three months, insiders sold 2,876,270 shares of company stock worth $333,061,527. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Sanford C. Bernstein upped their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America increased their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC boosted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $143.71 on Tuesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $143.71. The business’s 50-day moving average price is $122.58 and its two-hundred day moving average price is $112.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.53 trillion, a P/E ratio of 67.41, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 payout ratio is presently 1.88%.

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.