NVIDIA Co. (NASDAQ:NVDA) Holdings Lifted by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 965.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,349 shares of the computer hardware maker’s stock after purchasing an additional 196,958 shares during the period. NVIDIA accounts for about 10.0% of Newbridge Financial Services Group Inc.’s investment portfolio, making the stock its largest position. Newbridge Financial Services Group Inc.’s holdings in NVIDIA were worth $26,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hamilton Wealth LLC lifted its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Curran Financial Partners LLC raised its stake in shares of NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its position in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares in the last quarter. Poehling Capital Management INC. boosted its stake in shares of NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after purchasing an additional 14 shares during the period. Finally, FSA Wealth Management LLC grew its holdings in NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after purchasing an additional 14 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $135.40 on Friday. The business has a 50 day simple moving average of $125.25 and a 200 day simple moving average of $116.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 12-month low of $42.89 and a 12-month high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC boosted their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group raised their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. UBS Group restated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research 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 data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders sold 2,516,270 shares of company stock worth $291,803,127 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.