NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,152 shares of the computer hardware maker’s stock after buying an additional 575 shares during the quarter. NVIDIA makes up approximately 1.1% of Fragasso Financial Advisors Inc’s investment portfolio, making the stock its 15th largest position. Fragasso Financial Advisors Inc’s holdings in NVIDIA were worth $14,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SMI Advisory Services LLC lifted its holdings in NVIDIA by 2.9% in the 3rd quarter. SMI Advisory Services LLC now owns 4,406 shares of the computer hardware maker’s stock valued at $550,000 after purchasing an additional 126 shares in the last quarter. Founders Capital Management grew its holdings in shares of NVIDIA by 43.5% during the third quarter. Founders Capital Management now owns 990 shares of the computer hardware maker’s stock worth $120,000 after buying an additional 300 shares in the last quarter. McLean Asset Management Corp raised its position in shares of NVIDIA by 142.5% in the third quarter. McLean Asset Management Corp now owns 46,772 shares of the computer hardware maker’s stock valued at $5,843,000 after buying an additional 27,486 shares during the last quarter. KWB Wealth purchased a new position in shares of NVIDIA in the third quarter worth about $1,046,000. Finally, Sandbox Financial Partners LLC boosted its position in NVIDIA by 7.7% during the third quarter. Sandbox Financial Partners LLC now owns 49,368 shares of the computer hardware maker’s stock worth $5,995,000 after acquiring an additional 3,515 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 2.2 %

NASDAQ NVDA opened at $148.88 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $148.93. The business’s fifty day moving average is $126.08 and its 200 day moving average is $117.25. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66.

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, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. Bank of America boosted their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Raymond James upped their target price on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

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.