BCGM Wealth Management LLC Has $1.97 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

BCGM Wealth Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 1,039.2% in the second quarter, HoldingsChannel reports. The fund owned 15,972 shares of the computer hardware maker’s stock after purchasing an additional 14,570 shares during the quarter. BCGM Wealth Management LLC’s holdings in NVIDIA were worth $1,973,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the company’s 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 directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,397,403 shares of company stock valued at $526,762,784. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 2.1 %

NASDAQ NVDA opened at $121.40 on Friday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year 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 stock 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 PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released 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. 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 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 dividend 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%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVDA shares. Susquehanna raised their target price on NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Truist Financial raised their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

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.