NVIDIA Co. (NASDAQ:NVDA) Shares Bought by First Pacific Financial

First Pacific Financial lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 38.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,442 shares of the computer hardware maker’s stock after purchasing an additional 5,150 shares during the quarter. NVIDIA comprises about 0.5% of First Pacific Financial’s investment portfolio, making the stock its 25th biggest position. First Pacific Financial’s holdings in NVIDIA were worth $2,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the first quarter worth approximately $30,000. TCTC Holdings LLC purchased a new stake in NVIDIA in the first quarter valued at approximately $82,000. Finally, Delos Wealth Advisors LLC increased its position in NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.3 %

Shares of NVIDIA stock opened at $140.15 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $131.64 and a 200 day moving average price of $120.96. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The firm has a market cap of $3.44 trillion, a P/E ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVDA shares. Mizuho boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wedbush restated an “outperform” rating and set a $160.00 price target (up from $138.00) on shares of NVIDIA in a research note on Thursday, November 14th. HSBC lifted their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird increased their target price 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-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % 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, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

About NVIDIA

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.