Bright Financial Advisors Inc. Has $2.76 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bright Financial Advisors Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 904.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,350 shares of the computer hardware maker’s stock after purchasing an additional 20,125 shares during the quarter. NVIDIA makes up approximately 1.9% of Bright Financial Advisors Inc.’s holdings, making the stock its 14th biggest holding. Bright Financial Advisors Inc.’s holdings in NVIDIA were worth $2,761,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Vanguard Group Inc. lifted its position in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Evercore ISI increased their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Truist Financial boosted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. UBS Group reiterated a “buy” rating and set a $150.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Trading Down 2.8 %

Shares of NVDA stock opened at $139.56 on Thursday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The company has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The firm has a 50 day moving average price of $123.56 and a two-hundred day moving average price of $113.50. 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 issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the sale, the chief executive officer now directly owns 77,334,995 shares of the company’s stock, valued at $8,741,947,834.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,756,270 shares of company stock valued at $318,992,727 over the last ninety days. 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.