Demars Financial Group LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Demars Financial Group LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,707 shares of the computer hardware maker’s stock, valued at approximately $4,068,000. NVIDIA comprises about 3.2% of Demars Financial Group LLC’s investment portfolio, making the stock its 5th largest position.

A number of other large investors have also recently made changes to their positions in NVDA. AdvisorNet Financial Inc lifted its position in shares of NVIDIA by 0.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,975 shares of the computer hardware maker’s stock valued at $2,270,000 after buying an additional 22 shares in the last quarter. Cable Hill Partners LLC lifted its position in shares of NVIDIA by 1.9% during the 2nd quarter. Cable Hill Partners LLC now owns 1,350 shares of the computer hardware maker’s stock valued at $513,000 after buying an additional 25 shares in the last quarter. Vicus Capital lifted its position in shares of NVIDIA by 1.9% during the 2nd quarter. Vicus Capital now owns 1,420 shares of the computer hardware maker’s stock valued at $539,000 after buying an additional 26 shares in the last quarter. Private Ocean LLC lifted its position in shares of NVIDIA by 2.7% during the 2nd quarter. Private Ocean LLC now owns 1,037 shares of the computer hardware maker’s stock valued at $393,000 after buying an additional 27 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of NVIDIA by 2.7% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,129 shares of the computer hardware maker’s stock valued at $429,000 after buying an additional 30 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

NVDA has been the topic of a number of analyst reports. BofA Securities lifted their price objective on NVIDIA from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Piper Sandler boosted their price target on NVIDIA from $390.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Cascend Securities lifted their price objective on NVIDIA from $450.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on NVIDIA from $535.00 to $605.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $450.00 price objective on shares of NVIDIA in a research note on Monday, July 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $512.97.

In other news, CEO Jen Hsun Huang sold 49,999 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $550.51, for a total value of $27,524,949.49. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 22,400 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $378.55, for a total value of $8,479,520.00. Following the completion of the transaction, the director now directly owns 161,257 shares in the company, valued at $61,043,837.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,373 shares of company stock valued at $152,440,424. 4.47% of the stock is currently owned by company insiders.

NVIDIA stock traded down $19.06 during midday trading on Wednesday, reaching $500.58. The company’s stock had a trading volume of 13,909,876 shares, compared to its average volume of 13,161,357. The stock’s 50-day simple moving average is $478.65 and its 200-day simple moving average is $358.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.09 and a quick ratio of 5.51. NVIDIA Co. has a 52-week low of $169.32 and a 52-week high of $589.07. The stock has a market capitalization of $308.86 billion, a P/E ratio of 93.59, a PEG ratio of 3.94 and a beta of 1.53.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.21. NVIDIA had a return on equity of 30.41% and a net margin of 25.93%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue was up 50.1% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 6.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, September 1st. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.

NVIDIA Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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