AFG Fiduciary Services Limited Partnership cut its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 30.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,957 shares of the computer hardware maker’s stock after selling 2,200 shares during the period. NVIDIA makes up 1.7% of AFG Fiduciary Services Limited Partnership’s investment portfolio, making the stock its 14th largest position. AFG Fiduciary Services Limited Partnership’s holdings in NVIDIA were worth $2,254,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BCM Advisors LLC increased its holdings in shares of NVIDIA by 0.8% in the second quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock valued at $1,390,000 after purchasing an additional 23 shares in the last quarter. IVC Wealth Advisors LLC grew its holdings in NVIDIA by 0.7% during the 2nd quarter. IVC Wealth Advisors LLC now owns 3,629 shares of the computer hardware maker’s stock worth $1,535,000 after acquiring an additional 27 shares during the period. Smallwood Wealth Investment Management LLC grew its holdings in NVIDIA by 2.0% during the 2nd quarter. Smallwood Wealth Investment Management LLC now owns 1,523 shares of the computer hardware maker’s stock worth $644,000 after acquiring an additional 30 shares during the period. NovaPoint Capital LLC grew its holdings in NVIDIA by 0.7% during the 2nd quarter. NovaPoint Capital LLC now owns 4,680 shares of the computer hardware maker’s stock worth $1,980,000 after acquiring an additional 31 shares during the period. Finally, Thomasville National Bank grew its holdings in NVIDIA by 2.6% during the 2nd quarter. Thomasville National Bank now owns 1,279 shares of the computer hardware maker’s stock worth $541,000 after acquiring an additional 33 shares during the period. 64.79% of the stock is owned by institutional investors and hedge funds.
Insider Activity at NVIDIA
In other news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Colette Kress sold 4,980 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The disclosure for this sale can be found here. Insiders sold a total of 145,232 shares of company stock valued at $67,606,089 in the last quarter. Insiders own 3.99% of the company’s stock.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NVDA. Robert W. Baird lifted their target price on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Phillip Securities raised shares of NVIDIA from an “accumulate” rating to a “buy” rating in a report on Monday, August 28th. Morgan Stanley lifted their target price on shares of NVIDIA from $500.00 to $630.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Piper Sandler boosted their price target on shares of NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. Finally, Benchmark boosted their price target on shares of NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $555.70.
Read Our Latest Report on NVDA
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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