Levy Wealth Management Group LLC Purchases 11,105 Shares of NVIDIA Co. (NASDAQ:NVDA)

Levy Wealth Management Group LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,010.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,204 shares of the computer hardware maker’s stock after acquiring an additional 11,105 shares during the quarter. Levy Wealth Management Group LLC’s holdings in NVIDIA were worth $1,508,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Insiders sold a total of 3,845,633 shares of company stock worth $465,330,122 in the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Argus raised their target price on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial raised their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $165.00 target price on shares of NVIDIA in a research report on Thursday, September 5th. Morgan Stanley raised their target price 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. Finally, Sanford C. Bernstein raised their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $119.10 on Monday. 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 simple moving average of $117.42 and a two-hundred day simple moving average of $106.13. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The stock has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67.

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

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

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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

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.