Abich Financial Wealth Management LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Abich Financial Wealth Management LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,079.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,347 shares of the computer hardware maker’s stock after purchasing an additional 2,148 shares during the quarter. NVIDIA makes up about 0.2% of Abich Financial Wealth Management LLC’s holdings, making the stock its 21st biggest holding. Abich Financial Wealth Management LLC’s holdings in NVIDIA were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.7 %

NVIDIA stock opened at $140.52 on Tuesday. The firm has a 50 day moving average of $124.46 and a 200 day moving average of $114.81. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a P/E/G ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. 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 released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. As a group, research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley restated an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. The Goldman Sachs Group upped their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Five research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on 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 $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on 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 $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,636,270 shares of company stock worth $305,367,927 in the last three months. 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.