NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Riversedge Advisors LLC

Riversedge Advisors LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 906.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,705 shares of the computer hardware maker’s stock after acquiring an additional 21,349 shares during the period. NVIDIA comprises about 0.7% of Riversedge Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Riversedge Advisors LLC’s holdings in NVIDIA were worth $2,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NVDA. Bank of New York Mellon Corp lifted its holdings in 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 worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after acquiring an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings 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 last quarter. Swedbank AB raised its holdings 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 last quarter. Finally, Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $14,606,369,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $116.00 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month 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 firm has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The firm has a 50-day moving average price of $115.99 and a 200 day moving average price of $106.97.

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, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate 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 plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are 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 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 of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NVDA shares. Sanford C. Bernstein lifted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Argus raised their price objective 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. Truist Financial lifted their price target on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.