NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Echo45 Advisors LLC

Echo45 Advisors LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 709.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,732 shares of the computer hardware maker’s stock after acquiring an additional 10,283 shares during the quarter. NVIDIA accounts for approximately 1.0% of Echo45 Advisors LLC’s portfolio, making the stock its 22nd largest holding. Echo45 Advisors LLC’s holdings in NVIDIA were worth $1,449,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NVDA. Bank of New York Mellon Corp boosted its holdings in NVIDIA by 854.1% in the 2nd 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 purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of 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 buying an additional 57,160,191 shares during the period. Swedbank AB boosted its stake in shares of NVIDIA by 798.8% in 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 in the last quarter. Finally, Norges Bank acquired a new position in NVIDIA during the fourth quarter worth $14,606,369,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.6 %

NVDA opened at $116.00 on Friday. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, 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 $115.99 and a two-hundred day moving average of $106.97.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm 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%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a $0.01 dividend. 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 dividend payout ratio (DPR) is currently 2.34%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 have sold 3,692,303 shares of company stock worth $444,047,307. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVDA. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Susquehanna raised their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Needham & Company LLC upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. 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’s stock. According to data from MarketBeat, NVIDIA presently 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.