BCGM Wealth Management LLC Acquires 14,570 Shares of NVIDIA Co. (NASDAQ:NVDA)

BCGM Wealth Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 1,039.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,972 shares of the computer hardware maker’s stock after acquiring an additional 14,570 shares during the period. BCGM Wealth Management LLC’s holdings in NVIDIA were worth $1,973,000 as of its most recent filing with the SEC.

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 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 1,900.0% during the 2nd 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 in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,397,403 shares of company stock valued at $526,762,784. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVDA. Argus boosted their target price on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Melius Research upped their price objective on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

NVIDIA stock opened at $121.40 on Friday. 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 company has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a P/E/G ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The stock has a 50-day moving average price of $115.81 and a two-hundred day moving average price of $107.87.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its board has approved a stock repurchase program 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 programs are typically a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.