Fiduciary Group LLC Purchases 37,733 Shares of NVIDIA Co. (NASDAQ:NVDA)

Fiduciary Group LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 920.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,834 shares of the computer hardware maker’s stock after acquiring an additional 37,733 shares during the quarter. Fiduciary Group LLC’s holdings in NVIDIA were worth $5,168,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Confluence Investment Management LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at $279,000. Arden Trust Co boosted its holdings in shares of NVIDIA by 1.0% in the 1st quarter. Arden Trust Co now owns 10,450 shares of the computer hardware maker’s stock valued at $9,442,000 after acquiring an additional 99 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of NVIDIA by 25.0% in the 1st quarter. Versant Capital Management Inc now owns 751 shares of the computer hardware maker’s stock valued at $679,000 after acquiring an additional 150 shares during the last quarter. Strategic Advocates LLC boosted its holdings in NVIDIA by 16.6% during the first quarter. Strategic Advocates LLC now owns 9,768 shares of the computer hardware maker’s stock worth $8,826,000 after buying an additional 1,390 shares in the last quarter. Finally, Duncan Williams Asset Management LLC purchased a new stake in NVIDIA during the first quarter worth $493,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,116,270 shares of company stock valued at $362,016,327 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA opened at $135.72 on Thursday. The firm’s 50 day moving average price is $120.58 and its 200 day moving average price is $111.69. The stock has a market cap of $3.34 trillion, a price-to-earnings ratio of 79.37, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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, 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 company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVDA. Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Evercore ISI upped their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Truist Financial upped their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.46.

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.