Rothschild Investment LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Rothschild Investment LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 477,616 shares of the computer hardware maker’s stock, valued at approximately $59,005,000. NVIDIA makes up approximately 4.1% of Rothschild Investment LLC’s investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in NVIDIA by 854.1% during the 2nd 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 purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. raised its stake 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 acquiring an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew 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 worth $7,913,435,000 after purchasing an additional 57,160,191 shares in the last quarter. Swedbank AB boosted its stake 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 purchasing an additional 34,678,944 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of NVIDIA by 858.4% during the second quarter. Principal Financial Group Inc. now owns 34,341,377 shares of the computer hardware maker’s stock valued at $4,242,534,000 after acquiring an additional 30,758,341 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC increased their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Tigress Financial upped their price objective on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Mizuho increased their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

Shares of NVDA opened at $121.40 on Friday. 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 stock has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 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 business’s fifty day moving average price is $115.81 and its 200 day moving average price is $107.87.

NVIDIA (NASDAQ:NVDA) last released 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the company earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

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

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the sale, the chief executive officer now owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,397,403 shares of company stock valued at $526,762,784. 4.23% of the stock is owned by corporate 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.