LVZ Inc. Purchases 4,518 Shares of NVIDIA Co. (NASDAQ:NVDA)

LVZ Inc. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 798.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,084 shares of the computer hardware maker’s stock after purchasing an additional 4,518 shares during the quarter. LVZ Inc.’s holdings in NVIDIA were worth $628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of NVIDIA by 829.0% during 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 shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after acquiring an additional 34,678,944 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $14,606,369,000. Finally, New York State Teachers Retirement System raised its holdings in shares of NVIDIA by 852.4% during the second quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock worth $2,935,815,000 after acquiring an additional 21,268,926 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVDA stock opened at $119.14 on Friday. The company has a 50 day simple moving average of $117.55 and a 200 day simple moving average of $105.46. The stock has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.67, a P/E/G ratio of 0.93 and a beta of 1.67. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. 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 (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 in the company, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 in the company, valued at approximately $64,582,043.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The disclosure for this sale can be found here. Insiders sold a total of 3,845,633 shares of company stock worth $465,330,122 in the last three months. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC lifted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Susquehanna lifted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Finally, Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five equities 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 stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.