Signaturefd LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Signaturefd LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,279.5% during the second quarter, HoldingsChannel.com reports. The firm owned 785,022 shares of the computer hardware maker’s stock after purchasing an additional 728,115 shares during the period. NVIDIA makes up approximately 2.0% of Signaturefd LLC’s holdings, making the stock its 12th largest holding. Signaturefd LLC’s holdings in NVIDIA were worth $96,982,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NVDA. BLB&B Advisors LLC lifted its position in shares of NVIDIA by 843.8% in the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares in the last quarter. Cypress Point Wealth Management LLC lifted its position in shares of NVIDIA by 772.8% in the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after acquiring an additional 5,294 shares in the last quarter. McAdam LLC lifted its position in NVIDIA by 945.0% during the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after buying an additional 76,517 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its position in NVIDIA by 752.9% during the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 56,720 shares of the computer hardware maker’s stock worth $7,006,000 after buying an additional 50,070 shares in the last quarter. Finally, Perennial Advisors LLC increased its stake in NVIDIA by 910.9% during the second quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock worth $18,264,000 after acquiring an additional 133,213 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $120.87 on Wednesday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 70.68, a PEG ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $115.64 and its two-hundred day moving average is $107.64. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

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 paid a $0.01 dividend. 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 payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Argus raised their target price on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. HSBC lifted their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the transaction, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at approximately $10,015,078,174.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The sale was disclosed in a 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 on Friday, June 28th. The stock was sold at an average price of $125.04, for a total value of $15,004,800.00. Following the completion of the transaction, the chief executive officer now directly owns 80,094,995 shares in the company, valued at $10,015,078,174.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,352,303 shares of company stock valued at $521,745,907 in the last quarter. 4.23% of the stock is currently owned by company insiders.

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.