Benchmark Financial Wealth Advisors LLC Has $8.22 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Benchmark Financial Wealth Advisors LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 909.6% during the 2nd quarter, Holdings Channel reports. The firm owned 66,562 shares of the computer hardware maker’s stock after buying an additional 59,969 shares during the period. NVIDIA makes up approximately 3.0% of Benchmark Financial Wealth Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Benchmark Financial Wealth Advisors LLC’s holdings in NVIDIA were worth $8,223,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Swedbank AB lifted its holdings in NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after buying an additional 34,678,944 shares during the period. Norges Bank bought a new stake in NVIDIA during the 4th quarter valued at approximately $14,606,369,000. Chevy Chase Trust Holdings LLC grew its holdings in shares of NVIDIA by 861.8% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock worth $2,149,175,000 after acquiring an additional 15,587,911 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of NVIDIA by 626.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 15,312,477 shares of the computer hardware maker’s stock worth $1,891,703,000 after acquiring an additional 13,203,492 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $108.10 on Wednesday. The stock has a market capitalization of $2.66 trillion, a PE ratio of 63.22, a P/E/G ratio of 0.93 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The business has a 50 day simple moving average of $117.97 and a two-hundred day simple moving average of $105.29. 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 (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In related news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock valued at $467,359,322 in the last ninety days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Stifel Nicolaus raised their target price on shares of NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Morgan Stanley boosted their price target on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus 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.