Planned Solutions Inc. Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

Planned Solutions Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 775.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,620 shares of the computer hardware maker’s stock after purchasing an additional 10,292 shares during the period. NVIDIA comprises 0.7% of Planned Solutions Inc.’s investment portfolio, making the stock its 19th largest position. Planned Solutions Inc.’s holdings in NVIDIA were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake 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 valued at $7,913,435,000 after buying an additional 57,160,191 shares during the period. Swedbank AB increased its stake 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 valued at $4,820,576,000 after buying an additional 34,678,944 shares during the period. Norges Bank purchased a new stake in NVIDIA in the fourth quarter worth $14,606,369,000. New York State Teachers Retirement System grew its stake in NVIDIA by 852.4% in 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 purchasing an additional 21,268,926 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its stake 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 during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.0 %

Shares of NVDA opened at $119.10 on Friday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The company has a 50-day moving average of $117.42 and a 200 day moving average of $105.93. The firm has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, research analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given 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 is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’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 sale, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The transaction was disclosed in a legal filing with the SEC, 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 that occurred on Friday, June 21st. The shares were 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA 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 sale, 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. In the last quarter, 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

Several equities research analysts recently weighed in on NVDA shares. Jefferies Financial Group upped their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Stifel Nicolaus boosted their target price on NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a report on Monday, May 20th. Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $138.00 target price on shares of NVIDIA 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.10.

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.