Inspire Advisors LLC Buys 11,363 Shares of NVIDIA Co. (NASDAQ:NVDA)

Inspire Advisors LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 955.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,552 shares of the computer hardware maker’s stock after buying an additional 11,363 shares during the period. Inspire Advisors LLC’s holdings in NVIDIA were worth $1,551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Hawaiian Bank increased its stake in shares of NVIDIA by 12.6% in the 1st quarter. First Hawaiian Bank now owns 17,168 shares of the computer hardware maker’s stock worth $15,512,000 after acquiring an additional 1,922 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in NVIDIA by 102.0% in the first quarter. Carolina Wealth Advisors LLC now owns 99 shares of the computer hardware maker’s stock worth $89,000 after purchasing an additional 50 shares during the period. Pensionfund Sabic bought a new position in shares of NVIDIA during the first quarter valued at approximately $904,000. Benchmark Wealth Management LLC bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $271,000. Finally, Tompkins Financial Corp grew its stake in shares of NVIDIA by 5.4% in the 1st quarter. Tompkins Financial Corp now owns 23,194 shares of the computer hardware maker’s stock worth $20,957,000 after buying an additional 1,188 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Truist Financial upped their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. The Goldman Sachs Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Trading Up 0.9 %

Shares of NVDA stock opened at $136.93 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a fifty day simple moving average of $121.22 and a two-hundred day simple moving average of $111.86. The firm has a market capitalization of $3.37 trillion, a PE ratio of 80.08, a PEG ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is owned by insiders.

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.