NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Scharf Investments LLC

Scharf Investments LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 900.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,824 shares of the computer hardware maker’s stock after acquiring an additional 35,844 shares during the quarter. NVIDIA accounts for about 0.1% of Scharf Investments LLC’s investment portfolio, making the stock its 28th largest holding. Scharf Investments LLC’s holdings in NVIDIA were worth $4,920,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft grew its position in shares of NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after buying an additional 11,445 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in NVIDIA by 16.3% during the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after purchasing an additional 1,724 shares during the last quarter. Shared Vision Wealth Group LLC bought a new position in NVIDIA during the fourth quarter worth $269,000. Grand Alliance Asset Management Ltd bought a new position in NVIDIA during the fourth quarter worth $29,961,000. Finally, OMNI 360 Wealth Inc. bought a new position in NVIDIA during the fourth quarter worth $240,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wolfe Research raised their price objective on NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Citigroup raised their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the transaction, the chief executive officer now owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,725,633 shares of company stock worth $451,910,522. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $116.91 on Thursday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 68.37, a PEG ratio of 0.93 and a beta of 1.67. The firm has a 50-day moving average of $117.74 and a two-hundred day moving average of $105.37.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, analysts expect 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. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.