Journey Advisory Group LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Journey Advisory Group LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 742.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,524 shares of the computer hardware maker’s stock after purchasing an additional 67,444 shares during the quarter. NVIDIA comprises about 1.1% of Journey Advisory Group LLC’s investment portfolio, making the stock its 25th biggest position. Journey Advisory Group LLC’s holdings in NVIDIA were worth $9,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVDA. AdvisorShares Investments LLC increased its holdings in shares of NVIDIA by 102.2% in the 4th quarter. AdvisorShares Investments LLC now owns 1,719 shares of the computer hardware maker’s stock worth $851,000 after buying an additional 869 shares during the last quarter. NCM Capital Management LLC grew its position in NVIDIA by 13.8% in the fourth quarter. NCM Capital Management LLC now owns 14,781 shares of the computer hardware maker’s stock worth $7,320,000 after acquiring an additional 1,787 shares in the last quarter. Delaney Dennis R increased its stake in NVIDIA by 0.4% during the fourth quarter. Delaney Dennis R now owns 8,825 shares of the computer hardware maker’s stock worth $4,370,000 after acquiring an additional 32 shares during the last quarter. Broderick Brian C raised its position in NVIDIA by 1.2% during the fourth quarter. Broderick Brian C now owns 29,099 shares of the computer hardware maker’s stock valued at $14,410,000 after purchasing an additional 352 shares during the period. Finally, Prudential PLC lifted its stake in shares of NVIDIA by 2.5% in the 4th quarter. Prudential PLC now owns 197,312 shares of the computer hardware maker’s stock valued at $97,713,000 after purchasing an additional 4,725 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 1.7 %

NVDA stock opened at $124.92 on Friday. The business’s 50-day moving average is $116.26 and its 200 day moving average is $109.35. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The stock has a market cap of $3.07 trillion, a price-to-earnings ratio of 73.05, a PEG ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its 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 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 firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in 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 management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,077,403 shares of company stock worth $486,699,184 in the last ninety days. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NVDA shares. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Craig Hallum boosted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Susquehanna upped their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Finally, Tigress Financial increased their target price on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.