Total Clarity Wealth Management Inc. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Total Clarity Wealth Management Inc. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 893.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,191 shares of the computer hardware maker’s stock after buying an additional 34,346 shares during the quarter. NVIDIA accounts for 1.6% of Total Clarity Wealth Management Inc.’s investment portfolio, making the stock its 12th largest holding. Total Clarity Wealth Management Inc.’s holdings in NVIDIA were worth $4,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA in the 1st quarter valued at about $30,000. Norwood Financial Corp acquired a new stake in NVIDIA in the 1st quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its stake in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ:NVDA opened at $138.00 on Friday. 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 fifty day simple moving average of $121.88 and a 200 day simple moving average of $112.35. The firm has a market cap of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business 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%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in 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 typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the sale, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at approximately $9,151,167,613.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock worth $347,729,127 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Company 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.