Southern Capital Advisors LLC Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Southern Capital Advisors LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 756.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,830 shares of the computer hardware maker’s stock after purchasing an additional 4,266 shares during the period. Southern Capital Advisors LLC’s holdings in NVIDIA were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NVDA. Aveo Capital Partners LLC grew its stake in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC increased its holdings in NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares in the last quarter. Royal Capital Wealth Management LLC raised its position in shares of NVIDIA by 236.1% in the fourth quarter. Royal Capital Wealth Management LLC now owns 1,872 shares of the computer hardware maker’s stock worth $927,000 after acquiring an additional 1,315 shares during the period. Buckingham Capital Management Inc. boosted its stake in shares of NVIDIA by 6.0% during the 4th quarter. Buckingham Capital Management Inc. now owns 4,238 shares of the computer hardware maker’s stock worth $2,099,000 after acquiring an additional 239 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of NVIDIA by 18.8% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,548 shares of the computer hardware maker’s stock valued at $9,186,000 after acquiring an additional 2,939 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $119.10 on Monday. The stock has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 69.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month 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. The business has a 50-day moving average of $117.42 and a 200 day moving average of $106.13.

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 firm 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 business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has approved 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 an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business 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 $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now owns 5,188,862 shares in the company, valued at $627,073,972.70. The disclosure for this sale can be found here. Insiders sold 3,845,633 shares of company stock valued at $465,330,122 in the last three months. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on NVDA. Benchmark reissued a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Argus lifted their price target on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Bank of America restated a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a research report on Thursday, September 5th. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Finally, Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Five investment 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.com, the company 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.