NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 870.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,593 shares of the computer hardware maker’s stock after acquiring an additional 13,987 shares during the period. Benedict Financial Advisors Inc.’s holdings in NVIDIA were worth $1,926,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Aveo Capital Partners LLC increased its stake in NVIDIA by 30.5% during the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after acquiring an additional 549 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares during the period. Intech Investment Management LLC increased its position in NVIDIA by 22.8% during the 4th quarter. Intech Investment Management LLC now owns 536,954 shares of the computer hardware maker’s stock worth $265,910,000 after purchasing an additional 99,609 shares in the last quarter. Fortis Capital Advisors LLC raised its holdings in NVIDIA by 7.2% in the fourth quarter. Fortis Capital Advisors LLC now owns 21,871 shares of the computer hardware maker’s stock valued at $10,831,000 after buying an additional 1,466 shares during the period. Finally, Insight Holdings Group LLC lifted its position in NVIDIA by 50.2% during the fourth quarter. Insight Holdings Group LLC now owns 45,500 shares of the computer hardware maker’s stock valued at $22,533,000 after buying an additional 15,200 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Robert W. Baird increased their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Barclays cut their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the sale, the chief executive officer now owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,397,403 shares of company stock worth $526,762,784. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 0.4 %

Shares of NASDAQ NVDA opened at $124.04 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month 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’s 50 day simple moving average is $115.75 and its 200 day simple moving average is $107.76. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 72.54, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its board has authorized a stock 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.