Bright Financial Advisors Inc. Has $2.76 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bright Financial Advisors Inc. grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 904.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,350 shares of the computer hardware maker’s stock after buying an additional 20,125 shares during the quarter. NVIDIA accounts for about 1.9% of Bright Financial Advisors Inc.’s holdings, making the stock its 14th biggest position. Bright Financial Advisors Inc.’s holdings in NVIDIA were worth $2,761,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Single Point Partners LLC raised its position in NVIDIA by 4.0% in the first quarter. Single Point Partners LLC now owns 595 shares of the computer hardware maker’s stock worth $537,000 after acquiring an additional 23 shares during the period. Abacus Planning Group Inc. grew its position in shares of NVIDIA by 49.9% during the 1st quarter. Abacus Planning Group Inc. now owns 2,181 shares of the computer hardware maker’s stock valued at $1,971,000 after purchasing an additional 726 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in NVIDIA by 0.6% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,788 shares of the computer hardware maker’s stock worth $7,037,000 after acquiring an additional 47 shares during the last quarter. True North Advisors LLC raised its stake in NVIDIA by 33.1% in the first quarter. True North Advisors LLC now owns 1,847 shares of the computer hardware maker’s stock valued at $1,669,000 after purchasing an additional 459 shares in the last quarter. Finally, Cherrydale Wealth Management LLC lifted its holdings in shares of NVIDIA by 16.7% during the 1st quarter. Cherrydale Wealth Management LLC now owns 1,924 shares of the computer hardware maker’s stock worth $1,738,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,756,270 shares of company stock valued at $318,992,727 in the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. UBS Group reiterated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 2.8 %

Shares of NVDA stock opened at $139.56 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company’s fifty day moving average price is $123.56 and its 200-day moving average price is $113.50. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 65.46, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was 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 1.88%.

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.