Fairfield Financial Advisors LTD Invests in NVIDIA Co. (NASDAQ: NVDA)

Fairfield Financial Advisors LTD has made a significant move by purchasing a new stake in NVIDIA Co. (NASDAQ: NVDA) during the second quarter of the year, according to reports from Holdings Channel. The fund has acquired 9,860 shares of NVIDIA, which is valued at approximately $1,218,000.

Aside from Fairfield Financial Advisors, several other hedge funds have been actively adjusting their positions in NVIDIA. Notably, Truepoint Inc. has dramatically increased its holdings by an impressive 914.1% in the second quarter, bringing its total shares to 12,990, worth $1,605,000 after acquiring an extra 11,709 shares. Similarly, Consolidated Planning Corp boosted its stake in NVIDIA by 825.9%, now owning 84,133 shares valued at $10,394,000, following the purchase of 75,046 additional shares. Moreover, International Private Wealth Advisors LLC elevated its stake by 1,452.1%, now holding 7,512 shares worth $928,000 after acquiring 7,028 more. Lafayette Investments Inc. also expanded its holdings by 901.8%, increasing its shares to 5,710, which are valued at $705,000 after obtaining an additional 5,140 shares. Lastly, AMJ Financial Wealth Management raised its stake in NVIDIA by 898.7%, owning 59,300 shares now valued at $7,326,000, after buying 53,362 shares in the last quarter. Overall, about 65.27% of NVIDIA stock is currently held by hedge funds and institutional investors.

NVIDIA Stock Movement

On Friday, NVIDIA shares opened at $138.00. The stock has experienced extremes over the past year, with a low of $39.23 and a high of $140.89. NVIDIA boasts a market capitalization of $3.39 trillion, with a price-to-earnings (P/E) ratio of 80.70 and a P/E-to-growth (PEG) ratio of 1.20, along with a beta of 1.67. The company’s quick ratio stands at 3.79, while the current ratio is at 4.27, and it has a debt-to-equity ratio of 0.15. As for moving averages, NVIDIA's 50-day range is at $121.88, and the 200-day range is at $112.19.

NVIDIA publicly reported its quarterly earnings on August 28th. The company reported earnings per share (EPS) of $0.68, surpassing analysts’ projections of $0.64, and marking a 122.4% increase in revenue year-over-year, totaling $30.04 billion compared to predictions of $28.74 billion. In the same quarter last year, NVIDIA earned $0.25 EPS. Analysts are predicting an EPS of 2.65 for the current fiscal year.

Additionally, on August 28th, NVIDIA’s Board of Directors approved a significant share repurchase plan amounting to $50.00 billion. This plan allows the company to buy back up to 1.6% of its outstanding shares, generally seen as a sign that company leadership feels the stock is undervalued.

NVIDIA Dividend Changes

Recently, the company announced a quarterly dividend that was distributed on October 3rd. Shareholders recorded as of September 12th received a dividend of $0.01 per share, translating to an annualized dividend of $0.04, resulting in a yield of 0.03%. The ex-dividend date was September 12th, and NVIDIA's current dividend payout ratio is 2.34%.

Insider Trading Activity

In related insider news, Director Tench Coxe sold a substantial 1,000,000 shares on September 19th, at an average price of $119.27, totaling approximately $119,270,000. After this transaction, Coxe now holds about 5,852,480 shares of NVIDIA, valued around $698,025,289.60. This transaction represented no significant change in their stake. Furthermore, on September 20th, insider Donald F. Robertson, Jr. sold 4,500 shares for an average price of $116.51, amounting to $524,295. Following this transaction, Robertson owns 492,409 shares valued at $57,370,572.59, which also indicates no substantial change in ownership. In total, insiders accounted for selling about 2,996,270 shares worth $347,729,127 in the last quarter, with insiders currently owning around 4.23% of the company’s stock.

Analyst Ratings and Price Targets

Various research analysts have recently issued insights on NVIDIA shares. For instance, Wells Fargo & Company increased its price target from $155.00 to $165.00, offering an “overweight” rating on August 29th. Morgan Stanley also reiterated its “overweight” rating and set a price goal of $150.00 on October 10th. Goldman Sachs upgraded its price objective from $135.00 to $150.00 and assigned a “buy” rating in a report dated October 11th. Citigroup increased its target from $126.00 to $150.00, maintaining a “buy” rating. Melius Research lifted their price expectation from $125.00 to $160.00, also offering a “buy” rating. In total, five analysts have issued hold ratings, while 37 analysts have rated the stock as a buy, and two offered a strong buy rating. MarketBeat reports a consensus of “Moderate Buy” for the company, with an average price target of $143.07.

About NVIDIA

NVIDIA Corporation specializes in providing graphics, computing, and networking solutions across various regions including the United States, Taiwan, China, Hong Kong, and beyond. The company's Graphics segment includes GeForce GPUs designed for gaming and PCs, the GeForce NOW gaming streaming service, Quadro/NVIDIA RTX GPUs for workstations, and virtual GPU software for cloud-based environments. NVIDIA also engages in automotive technology and metaverse solutions.

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