SRS Capital Advisors Inc. Has $5.65 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

SRS Capital Advisors Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,895.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 45,755 shares of the computer hardware maker’s stock after purchasing an additional 43,462 shares during the period. SRS Capital Advisors Inc.’s holdings in NVIDIA were worth $5,653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. UBS Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a report on Tuesday. DA Davidson reissued a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Tuesday. Five investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $132.89 on Wednesday. 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 has a fifty day simple moving average of $116.58 and a two-hundred day simple moving average of $109.74. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The firm has a market cap of $3.27 trillion, a price-to-earnings ratio of 77.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction 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 transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,577,403 shares of company stock worth $420,166,534. 4.23% of the stock is owned by company insiders.

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.