Armstrong Advisory Group Inc. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Armstrong Advisory Group Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 970 shares of the computer hardware maker’s stock after selling 205 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in NVIDIA were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. United Bank increased its position in shares of NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after buying an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after buying an additional 249,045 shares during the period. MAS Advisors LLC increased its position in shares of NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares during the period. Navis Wealth Advisors LLC increased its position in shares of NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after buying an additional 1,950 shares during the period. Finally, Ergoteles LLC purchased a new stake in NVIDIA in the first quarter worth about $929,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now directly owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 283 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $424.53, for a total transaction of $120,141.99. Following the transaction, the director now directly owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The disclosure for this sale can be found here. Insiders sold a total of 185,515 shares of company stock valued at $85,008,631 over the last three months. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $439.00 on Friday. The firm has a fifty day moving average price of $454.96 and a 200-day moving average price of $363.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The stock has a market cap of $1.08 trillion, a PE ratio of 106.04, a price-to-earnings-growth ratio of 3.57 and a beta of 1.74. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 9.46 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $408.00 to $475.00 in a report on Thursday, June 29th. Stifel Nicolaus upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and upped their price objective for the stock from $440.00 to $600.00 in a report on Thursday, August 24th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Barclays upped their price objective on shares of NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $555.70.

About NVIDIA

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.