Clifford Group LLC Has $2.42 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Clifford Group LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 879.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,547 shares of the computer hardware maker’s stock after buying an additional 17,552 shares during the quarter. NVIDIA comprises 1.9% of Clifford Group LLC’s investment portfolio, making the stock its 10th biggest position. Clifford Group LLC’s holdings in NVIDIA were worth $2,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter valued at about $30,000. Norwood Financial Corp purchased a new stake in shares of NVIDIA in the first quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVDA shares. Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. The Goldman Sachs Group lifted their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird upped their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Trading Down 2.8 %

NVIDIA stock opened at $139.56 on Thursday. The business’s fifty day simple moving average is $123.56 and its two-hundred day simple moving average is $113.50. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 company 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%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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 given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has initiated a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. 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 through the SEC website. In other news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,756,270 shares of company stock valued at $318,992,727. Corporate insiders own 4.23% of the company’s stock.

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.