NVIDIA Co. (NASDAQ:NVDA) Holdings Raised by SNS Financial Group LLC

SNS Financial Group LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,462.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,768 shares of the computer hardware maker’s stock after purchasing an additional 13,823 shares during the period. SNS Financial Group LLC’s holdings in NVIDIA were worth $1,824,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter valued at about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 0.0 %

NASDAQ NVDA opened at $119.10 on Monday. 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 stock’s 50 day moving average is $117.42 and its two-hundred day moving average is $106.13. The company has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares in the company, valued at $64,582,043.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on NVDA shares. Truist Financial increased their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. UBS Group raised their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Morgan Stanley lifted their price objective on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Finally, Melius Research raised their target price on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

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.