NVIDIA Co. (NASDAQ:NVDA) Shares Bought by GraniteShares Advisors LLC

GraniteShares Advisors LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 2,855.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,330,000 shares of the computer hardware maker’s stock after acquiring an additional 1,285,000 shares during the quarter. NVIDIA comprises 54.7% of GraniteShares Advisors LLC’s holdings, making the stock its largest position. GraniteShares Advisors LLC’s holdings in NVIDIA were worth $164,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NVDA. International Private Wealth Advisors LLC raised its position in NVIDIA by 1,452.1% during the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares in the last quarter. Lafayette Investments Inc. boosted its stake in shares of NVIDIA by 901.8% in the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares in the last quarter. BLB&B Advisors LLC grew its holdings in shares of NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after purchasing an additional 510,294 shares during the last quarter. Cypress Point Wealth Management LLC increased its position in NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after purchasing an additional 5,294 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its position in NVIDIA by 863.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 429,618 shares of the computer hardware maker’s stock valued at $53,075,000 after buying an additional 385,015 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $117.00 on Wednesday. The business has a 50-day simple moving average of $115.72 and a two-hundred day simple moving average of $108.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. 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. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 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 analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

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 paid a $0.01 dividend. The ex-dividend date of this dividend 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 announced that its board has authorized a share buyback 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 board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NVDA shares. KeyCorp boosted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Raymond James raised their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares in the company, valued at $10,628,094,829.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,197,403 shares of company stock valued at $501,955,984 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

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.