Heritage Wealth Management Inc. Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Heritage Wealth Management Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,853 shares of the computer hardware maker’s stock, valued at approximately $3,253,000. NVIDIA makes up about 1.1% of Heritage Wealth Management Inc.’s holdings, making the stock its 17th biggest position.

A number of other institutional investors also recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the first quarter worth about $30,000. TCTC Holdings LLC bought a new position in NVIDIA in the 1st quarter valued at about $82,000. Finally, Slocum Gordon & Co LLP acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $98,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVDA. Mizuho increased their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. The Goldman Sachs Group raised their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Bank of America boosted their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 2.0 %

NASDAQ:NVDA opened at $135.40 on Friday. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42. 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 market capitalization of $3.32 trillion, a price-to-earnings ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66. The firm has a fifty day simple moving average of $125.25 and a two-hundred day simple moving average of $116.01.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,516,270 shares of company stock valued at $291,803,127. Corporate insiders own 4.23% of the company’s stock.

About NVIDIA

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.