Cypress Funds LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cypress Funds LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 271.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 557,870 shares of the computer hardware maker’s stock after purchasing an additional 407,870 shares during the period. NVIDIA comprises 9.2% of Cypress Funds LLC’s portfolio, making the stock its 4th biggest position. Cypress Funds LLC’s holdings in NVIDIA were worth $68,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVDA. Vanguard Group Inc. grew its position in shares of NVIDIA by 4.3% in the 1st 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 during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. grew its holdings in NVIDIA by 696.6% during 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 acquiring an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake 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 purchasing an additional 57,160,191 shares during the period. Finally, Van ECK Associates Corp grew its holdings 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 purchasing an additional 35,255,679 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 4,197,403 shares of company stock worth $501,955,984. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, KeyCorp increased their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. 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 stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Trading Down 3.7 %

NVDA opened at $117.00 on Wednesday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.88 trillion, a price-to-earnings ratio of 68.42, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The business’s 50 day moving average is $115.72 and its two-hundred day moving average is $108.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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 quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its board has authorized a stock repurchase plan 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

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.