NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 868.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 410,982 shares of the computer hardware maker’s stock after acquiring an additional 368,555 shares during the quarter. NVIDIA comprises 0.9% of Benjamin F. Edwards & Company Inc.’s investment portfolio, making the stock its 14th biggest holding. Benjamin F. Edwards & Company Inc.’s holdings in NVIDIA were worth $50,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Single Point Partners LLC grew its holdings in shares of NVIDIA by 4.0% during the first quarter. Single Point Partners LLC now owns 595 shares of the computer hardware maker’s stock worth $537,000 after purchasing an additional 23 shares during the last quarter. Abacus Planning Group Inc. boosted its position in shares of NVIDIA by 49.9% in the 1st quarter. Abacus Planning Group Inc. now owns 2,181 shares of the computer hardware maker’s stock valued at $1,971,000 after purchasing an additional 726 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in shares of NVIDIA by 0.6% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,788 shares of the computer hardware maker’s stock worth $7,037,000 after acquiring an additional 47 shares during the last quarter. True North Advisors LLC grew its position in NVIDIA by 33.1% during the 1st quarter. True North Advisors LLC now owns 1,847 shares of the computer hardware maker’s stock worth $1,669,000 after purchasing an additional 459 shares during the last quarter. Finally, Cherrydale Wealth Management LLC grew its holdings in shares of NVIDIA by 16.7% during the first quarter. Cherrydale Wealth Management LLC now owns 1,924 shares of the computer hardware maker’s stock worth $1,738,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America increased their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,756,270 shares of company stock valued at $318,992,727. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 2.8 %

NASDAQ:NVDA opened at $139.56 on Thursday. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business’s 50-day simple moving average is $123.56 and its 200 day simple moving average is $113.50.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.