Valmark Advisers Inc. Buys 116,475 Shares of NVIDIA Co. (NASDAQ:NVDA)

Valmark Advisers Inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 965.7% during the second quarter, HoldingsChannel.com reports. The firm owned 128,536 shares of the computer hardware maker’s stock after acquiring an additional 116,475 shares during the quarter. Valmark Advisers Inc.’s holdings in NVIDIA were worth $15,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. International Private Wealth Advisors LLC raised its position in shares of NVIDIA by 1,452.1% during the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after purchasing an additional 7,028 shares during the period. Lafayette Investments Inc. increased its position in shares of NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares during the last quarter. BLB&B Advisors LLC increased its holdings in NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after buying an additional 510,294 shares during the last quarter. Cypress Point Wealth Management LLC grew its holdings in NVIDIA by 772.8% during the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after purchasing an additional 5,294 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in NVIDIA by 863.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 429,618 shares of the computer hardware maker’s stock valued at $53,075,000 after purchasing an additional 385,015 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. KeyCorp upped their price objective on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company upped their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC lifted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Tigress Financial upped their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley increased their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

NASDAQ NVDA opened at $121.44 on Tuesday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a market cap of $2.99 trillion, a PE ratio of 71.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. 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 firm’s 50-day simple moving average is $115.83 and its two-hundred day simple moving average is $108.59.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. 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 presently 2.34%.

NVIDIA announced that its board has approved a stock buyback program 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $124.28, for a total value of $14,913,600.00. Following the transaction, the chief executive officer now directly owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the sale, the chief executive officer now owns 79,734,995 shares in the company, valued at approximately $9,909,465,178.60. The disclosure for this sale can be found here. Insiders sold a total of 4,277,403 shares of company stock valued at $512,029,184 over the last quarter. 4.23% of the stock is owned by corporate insiders.

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.