TSA Wealth Managment LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

TSA Wealth Managment LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,267.0% during the second quarter, Holdings Channel.com reports. The firm owned 4,771 shares of the computer hardware maker’s stock after acquiring an additional 4,422 shares during the quarter. TSA Wealth Managment LLC’s holdings in NVIDIA were worth $589,000 at the end of the most recent quarter.

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

NVIDIA Stock Down 1.6 %

Shares of NVIDIA stock opened at $116.00 on Friday. The company has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company’s 50 day moving average is $115.99 and its 200 day moving average is $106.97. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVDA shares. Wedbush reiterated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley boosted their price target on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price target on shares of NVIDIA in a research report on Monday, August 19th. Finally, Argus boosted their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the sale, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Insiders own 4.23% of the company’s stock.

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.