NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 846.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,864 shares of the computer hardware maker’s stock after purchasing an additional 155,487 shares during the quarter. NVIDIA comprises approximately 3.4% of Ninety One SA PTY Ltd’s investment portfolio, making the stock its 7th largest holding. Ninety One SA PTY Ltd’s holdings in NVIDIA were worth $21,697,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA in the 1st quarter worth about $45,000. Finally, Coston McIsaac & Partners boosted its holdings in shares of NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.5 %

Shares of NVDA opened at $106.47 on Tuesday. The firm has a market cap of $2.61 trillion, a P/E ratio of 62.26, a P/E/G ratio of 0.93 and a beta of 1.67. The stock has a 50 day simple moving average of $118.26 and a two-hundred day simple moving average of $105.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NVDA shares. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Susquehanna boosted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Activity

In other news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 156,023 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $129.81, for a total value of $20,253,345.63. Following the sale, the director now directly owns 8,585,217 shares of the company’s stock, valued at approximately $1,114,447,018.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,725,633 shares of company stock valued at $454,719,722. 4.23% of the stock is currently owned by company insiders.

NVIDIA 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.