Biechele Royce Advisors Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Biechele Royce Advisors grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 981.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,031 shares of the computer hardware maker’s stock after acquiring an additional 6,381 shares during the period. Biechele Royce Advisors’ holdings in NVIDIA were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 buying an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of 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 buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in NVIDIA by 829.0% in 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 acquiring an additional 57,160,191 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in NVIDIA by 741.8% in the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock valued at $4,942,652,000 after acquiring an additional 35,255,679 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 completion of 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. Insiders sold 4,397,403 shares of company stock valued at $526,762,784 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $121.40 on Friday. The firm has a 50 day moving average price of $115.88 and a 200-day moving average price of $108.23. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on NVDA. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Evercore ISI increased their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Finally, Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.