Sollinda Capital Management LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Sollinda Capital Management LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, HoldingsChannel reports. The firm acquired 3,717 shares of the computer hardware maker’s stock, valued at approximately $459,000.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% during the second 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 during the period. Baillie Gifford & Co. boosted 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 buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 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 in the last quarter. Van ECK Associates Corp boosted its stake in NVIDIA by 741.8% in the 2nd 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 buying an additional 35,255,679 shares in the last quarter. Finally, Swedbank AB boosted its stake in NVIDIA by 798.8% in the 2nd 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. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The disclosure for this sale can be found here. Insiders sold 4,397,403 shares of company stock worth $526,762,784 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 2.1 %

Shares of NVIDIA stock opened at $121.40 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The business has a 50-day moving average of $115.88 and a two-hundred day moving average of $108.23. The company has a market capitalization of $2.99 trillion, a P/E ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced 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 return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Analysts Set New Price Targets

Several analysts recently commented on NVDA shares. Evercore ISI boosted their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Raymond James boosted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Susquehanna boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Five equities 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 stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target 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.