NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Abacus Planning Group Inc.

Abacus Planning Group Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,194.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,231 shares of the computer hardware maker’s stock after buying an additional 26,050 shares during the period. NVIDIA makes up 0.7% of Abacus Planning Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Abacus Planning Group Inc.’s holdings in NVIDIA were worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA during the first quarter worth about $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners raised its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. Insiders sold 4,397,403 shares of company stock worth $526,762,784 over the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $121.40 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve 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 company has a 50-day moving average of $115.81 and a 200-day moving average of $107.87. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research note on Monday, August 19th. Mizuho boosted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Jefferies Financial Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.