Sound Stewardship LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Sound Stewardship LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 568.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,601 shares of the computer hardware maker’s stock after buying an additional 2,212 shares during the period. Sound Stewardship LLC’s holdings in NVIDIA were worth $321,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of NVIDIA by 829.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the period. Swedbank AB increased its position in shares of NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after buying an additional 34,678,944 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $14,606,369,000. New York State Teachers Retirement System lifted its holdings in 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 valued at $2,935,815,000 after purchasing an additional 21,268,926 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in NVIDIA by 861.8% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock valued at $2,149,175,000 after buying an additional 15,587,911 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the sale, the chief financial officer now owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,845,633 shares of company stock valued at $465,330,122. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Barclays decreased their price objective on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Craig Hallum lifted their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Up 1.9 %

Shares of NVIDIA stock opened at $119.14 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a fifty day moving average of $117.55 and a two-hundred day moving average of $105.46. The company has a market cap of $2.93 trillion, a P/E ratio of 69.67, a PEG ratio of 0.93 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

About NVIDIA

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.