Haverford Financial Services Inc. Takes $3.51 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Haverford Financial Services Inc. purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 28,434 shares of the computer hardware maker’s stock, valued at approximately $3,513,000.

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

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the completion of the transaction, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,756,270 shares of company stock valued at $318,992,727. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Robert W. Baird boosted their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Performance

Shares of NVDA opened at $139.56 on Thursday. The business has a 50-day simple moving average of $123.56 and a two-hundred day simple moving average of $113.50. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 65.46, 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 $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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, topping 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. 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%.

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.