PAX Financial Group LLC Decreases Stock Position in NVIDIA Corporation $NVDA

PAX Financial Group LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 29.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,595 shares of the computer hardware maker’s stock after selling 8,731 shares during the quarter. PAX Financial Group LLC’s holdings in NVIDIA were worth $3,254,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in NVIDIA by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock worth $91,150,170,000 after buying an additional 8,521,936 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its position in shares of NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after acquiring an additional 382,231,120 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NVIDIA by 2.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker’s stock worth $22,412,434,000 after acquiring an additional 5,896,735 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of NVIDIA by 123.5% in the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock worth $20,374,921,000 after acquiring an additional 103,889,872 shares in the last quarter. Finally, Nuveen LLC purchased a new position in NVIDIA in the first quarter valued at about $15,089,414,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $182.41 on Friday. The company has a market cap of $4.43 trillion, a PE ratio of 45.26, a P/E/G ratio of 0.90 and a beta of 2.29. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The firm has a 50-day simple moving average of $187.13 and a 200 day simple moving average of $172.08. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The business’s revenue was up 62.5% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is 0.99%.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Argus reiterated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Thursday, November 20th. Mizuho upped their price target on shares of NVIDIA from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. New Street Research reissued a “buy” rating and set a $307.00 price objective on shares of NVIDIA in a report on Thursday, October 30th. TD Cowen upped their target price on shares of NVIDIA from $140.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Finally, Piper Sandler set a $225.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $258.65.

Insider Activity

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the transaction, the director directly owned 7,183,280 shares of the company’s stock, valued at $1,265,765,768.80. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the completion of the sale, the director owned 7,399,803 shares in the company, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,949,931 shares of company stock valued at $531,605,955. 4.17% of the stock is currently owned by company insiders.

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.