NVIDIA Co. (NASDAQ:NVDA) is Cambridge Investment Research Advisors Inc.’s 3rd Largest Position

Cambridge Investment Research Advisors Inc. grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 904.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,771,624 shares of the computer hardware maker’s stock after purchasing an additional 5,197,136 shares during the period. NVIDIA comprises about 2.6% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its 3rd biggest position. Cambridge Investment Research Advisors Inc.’s holdings in NVIDIA were worth $713,026,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NVDA. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. raised its position in NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in NVIDIA by 829.0% in 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 purchasing an additional 57,160,191 shares in the last quarter. Swedbank AB grew its position 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 buying an additional 34,678,944 shares in the last quarter. Finally, Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at approximately $14,606,369,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, 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. Over the last 90 days, insiders sold 3,621,133 shares of company stock valued at $435,749,957. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVDA. DZ Bank downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price for the company. in a research note on Friday, May 24th. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Wells Fargo & Company upped their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. KeyCorp lifted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Susquehanna raised their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Up 4.0 %

NASDAQ:NVDA opened at $117.87 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $116.25 and a 200-day simple moving average of $106.75. The company has a market capitalization of $2.90 trillion, a PE ratio of 68.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 company 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 quarter in the previous year, the business posted $0.25 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved 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 typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued 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 is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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.