NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,037.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 30,144 shares of the computer hardware maker’s stock after purchasing an additional 27,495 shares during the period. NVIDIA comprises 2.9% of EdgeRock Capital LLC’s holdings, making the stock its 8th largest position. EdgeRock Capital LLC’s holdings in NVIDIA were worth $3,724,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $30,000. Norwood Financial Corp acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners raised its position in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the transaction, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,288,862 shares in the company, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. In 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.

NVIDIA Stock Performance

NVIDIA stock opened at $119.10 on Friday. The firm’s fifty day moving average price is $117.42 and its 200-day moving average price is $105.93. 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 stock has a market cap of $2.93 trillion, a P/E ratio of 69.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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 business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Mizuho lifted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC lifted their price objective 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. Finally, Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Company 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.