Absher Wealth Management LLC Purchases 5,336 Shares of NVIDIA Co. (NASDAQ:NVDA)

Absher Wealth Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 841.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,970 shares of the computer hardware maker’s stock after buying an additional 5,336 shares during the quarter. Absher Wealth Management LLC’s holdings in NVIDIA were worth $738,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA in the 1st quarter valued at $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA in the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners grew its stake in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVDA opened at $122.85 on Friday. The firm has a market capitalization of $3.02 trillion, a PE ratio of 71.84, a PEG ratio of 1.05 and a beta of 1.67. 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 50-day moving average is $116.03 and its 200-day moving average is $108.96. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 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 the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the sale, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,077,403 shares of company stock valued at $486,699,184 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James raised their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Morgan Stanley increased their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research note on Monday, August 19th. Five investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.