Lokken Investment Group LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Lokken Investment Group LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,157.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,930 shares of the computer hardware maker’s stock after acquiring an additional 8,220 shares during the quarter. Lokken Investment Group LLC’s holdings in NVIDIA were worth $1,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% in 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 period. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $143.59 on Wednesday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The stock has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 83.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a fifty day moving average of $123.13 and a 200-day moving average of $113.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,334,995 shares in the company, valued at approximately $8,741,947,834.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,756,270 shares of company stock valued at $318,992,727 in the last quarter. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVDA shares. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Benchmark reissued a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Finally, William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five equities 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, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.