Conestoga Capital Advisors LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Conestoga Capital Advisors LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,500 shares of the computer hardware maker’s stock after buying an additional 3,150 shares during the period. Conestoga Capital Advisors LLC’s holdings in NVIDIA were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Aveo Capital Partners LLC lifted its stake in shares of NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after acquiring an additional 549 shares during the period. Gryphon Financial Partners LLC boosted its holdings in NVIDIA by 60.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after purchasing an additional 5,496 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in NVIDIA by 112.5% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock valued at $345,054,000 after purchasing an additional 376,274 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $2,693,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $211,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.6 %

Shares of NASDAQ NVDA opened at $116.00 on Friday. The stock has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67. 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 firm has a fifty day moving average of $115.99 and a 200-day moving average of $106.97. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. 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 earned $0.25 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its board has authorized a share 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the sale, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at $9,736,682,395.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the sale, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock valued at $444,047,307 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVDA. Mizuho upped their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. KeyCorp upped 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. Susquehanna increased their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Melius Research boosted their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.