AMJ Financial Wealth Management Purchases 53,362 Shares of NVIDIA Co. (NASDAQ:NVDA)

AMJ Financial Wealth Management increased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 898.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,300 shares of the computer hardware maker's stock after purchasing an additional 53,362 shares during the period. NVIDIA makes up approximately 2.3% of AMJ Financial Wealth Management's portfolio, making the stock its 23rd largest position. AMJ Financial Wealth Management's holdings in NVIDIA were worth $7,326,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA during the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners boosted its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker's stock worth $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company's stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total value of $14,300,400.00. Following the sale, the chief executive officer now owns 78,654,995 shares of the company's stock, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total value of $14,300,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,654,995 shares in the company, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,356,270 shares of company stock worth $391,787,127. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. Needham & Company LLC raised their price objective on NVIDIA from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Wedbush reissued an "outperform" rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.46.

NVIDIA Stock Down 0.0 %

NVDA traded down $0.01 on Friday, reaching $134.80. 170,209,474 shares of the company traded hands, compared to its average volume of 422,430,250. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The stock's 50 day moving average price is $118.54 and its 200-day moving average price is $110.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 analysts' expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The business's quarterly revenue was up 122.4% compared to the same quarter last year. On average, 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 buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA's dividend payout ratio (DPR) 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.