Access Financial Services Inc. Acquires 2,523 Shares of NVIDIA Co. (NASDAQ:NVDA)

Access Financial Services Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 910.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,800 shares of the computer hardware maker’s stock after purchasing an additional 2,523 shares during the period. Access Financial Services Inc.’s holdings in NVIDIA were worth $346,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% in 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 in the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVDA shares. Citigroup upped their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group reissued a “buy” rating and set a $135.00 price target on shares of NVIDIA in a research report on Monday, August 19th. Raymond James raised their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price on the stock. in a report on Friday, May 24th. Finally, KeyCorp raised their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Five investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Trading Down 1.9 %

Shares of NVDA stock opened at $116.78 on Tuesday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The stock’s fifty day moving average price is $117.19 and its two-hundred day moving average price is $106.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market cap of $2.87 trillion, a PE ratio of 68.29, a P/E/G ratio of 1.06 and a beta of 1.67.

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 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%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given 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 dividend payout ratio is 2.34%.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 3,845,633 shares of company stock worth $465,330,122 in the last three months. 4.23% of the stock is owned by corporate insiders.

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.