NVIDIA Co. (NASDAQ:NVDA) is Private Advisory Group LLC’s Largest Position

Private Advisory Group LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,515.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 426,494 shares of the computer hardware maker’s stock after acquiring an additional 400,094 shares during the quarter. NVIDIA makes up about 6.9% of Private Advisory Group LLC’s investment portfolio, making the stock its largest position. Private Advisory Group LLC’s holdings in NVIDIA were worth $52,689,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in NVIDIA by 829.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after acquiring an additional 57,160,191 shares during the period. Swedbank AB raised its holdings in NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after purchasing an additional 34,678,944 shares in the last quarter. Norges Bank bought a new position in NVIDIA in the fourth quarter worth about $14,606,369,000. Chevy Chase Trust Holdings LLC raised its holdings in NVIDIA by 861.8% in the second quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock worth $2,149,175,000 after purchasing an additional 15,587,911 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in NVIDIA by 626.1% in the second quarter. Assenagon Asset Management S.A. now owns 15,312,477 shares of the computer hardware maker’s stock worth $1,891,703,000 after purchasing an additional 13,203,492 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 8.1 %

Shares of NASDAQ:NVDA opened at $116.91 on Thursday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 68.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business’s 50 day moving average price is $117.74 and its 200-day moving average price is $105.37.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Morgan Stanley boosted their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. HSBC boosted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Westpark Capital upped their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the sale, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,725,633 shares of company stock valued at $451,910,522. 4.23% of the stock is owned by 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.