FAS Wealth Partners Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

FAS Wealth Partners Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 963.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 123,243 shares of the computer hardware maker’s stock after buying an additional 111,649 shares during the quarter. NVIDIA accounts for 1.3% of FAS Wealth Partners Inc.’s portfolio, making the stock its 14th biggest position. FAS Wealth Partners Inc.’s holdings in NVIDIA were worth $15,225,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA during the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in 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 purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA during the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter valued at approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $124.88, for a total transaction of $14,985,600.00. Following the completion of the sale, the chief executive officer now owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value 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 sold 3,472,303 shares of company stock valued at $417,461,507 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NVDA shares. Morgan Stanley upped their price target on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Melius Research increased their target price on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

Shares of NVDA opened at $116.00 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The firm has a market capitalization of $2.85 trillion, a P/E ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. The business has a fifty day moving average of $115.99 and a 200 day moving average of $107.24.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

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

NVIDIA Company 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.