Consolidated Planning Corp Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Consolidated Planning Corp boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 825.9% in the 2nd quarter, Holdings Channel reports. The fund owned 84,133 shares of the computer hardware maker’s stock after purchasing an additional 75,046 shares during the period. NVIDIA makes up about 1.7% of Consolidated Planning Corp’s investment portfolio, making the stock its 14th biggest position. Consolidated Planning Corp’s holdings in NVIDIA were worth $10,394,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.7 %

NASDAQ:NVDA opened at $124.92 on Friday. The firm has a market capitalization of $3.07 trillion, a PE ratio of 73.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week 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 $116.26 and a 200-day moving average of $109.21.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business earned $0.25 EPS. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NVDA shares. Wedbush reissued an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Tigress Financial increased their target price on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’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 value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 9,141,240 shares in the company, valued at $1,195,125,717.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,077,403 shares of company stock valued at $486,699,184. 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.