High Falls Advisors Inc Buys 20,330 Shares of NVIDIA Co. (NASDAQ:NVDA)

High Falls Advisors Inc lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,206.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,015 shares of the computer hardware maker’s stock after purchasing an additional 20,330 shares during the period. NVIDIA makes up about 0.7% of High Falls Advisors Inc’s investment portfolio, making the stock its 23rd biggest position. High Falls Advisors Inc’s holdings in NVIDIA were worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its position 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the 1st quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $132.76 on Friday. The company has a 50-day simple moving average of $125.13 and a two-hundred day simple moving average of $115.47. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The stock has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 62.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. 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 issued its quarterly earnings results 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 return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its board has initiated a stock repurchase plan 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NVDA shares. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Needham & Company LLC lifted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA 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 transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,516,270 shares of company stock worth $291,803,127. Insiders own 4.23% of the company’s stock.

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.