IFS Advisors LLC buys 820 shares of NVIDIA Co. (NASDAQ:NVDA)

IFS Advisors LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1,064.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 897 shares of the computer hardware maker’s stock after purchasing an additional 820 shares during the quarter. NVIDIA makes up 0.1% of IFS Advisors LLC’s portfolio, making the stock its 19th biggest position. IFS Advisors LLC’s holdings in NVIDIA were worth $111,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC bought a new stake in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. 65.27% of shares are currently owned by institutional investors.

Insiders place their bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Insiders have sold a total of 4,472,303 shares of company stock worth $536,731,507 over the last 90 days. Company insiders own 4.23% of the company’s shares.

Analysts on Wall Street are forecasting an increase

NVDA has been the subject of several recent analyst reports. UBS Group raised their target price on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Westpark Capital upped their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Melius Research boosted their target price on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Raymond James boosted their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.10.

Check out our latest report on NVIDIA

NVIDIA Price Performance

Shares of NVDA opened at $116.26 on Tuesday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79, and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $115.75 and a two hundred day simple moving average of $107.41. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 67.99, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA – Get Your Free Report ) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. In the same period last year, the firm earned $0.25 per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

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

NVIDIA cuts dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.01 dividend. This represents a dividend of $0.04 on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics and computing 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 graphics workstations; 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.

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