Hodges Capital Management Inc. Acquires 333,640 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hodges Capital Management Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 782.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,291 shares of the computer hardware maker’s stock after purchasing an additional 333,640 shares during the quarter. NVIDIA makes up approximately 3.1% of Hodges Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Hodges Capital Management Inc.’s holdings in NVIDIA were worth $46,487,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Simon Quick Advisors LLC grew its position in shares of NVIDIA by 893.2% in the second quarter. Simon Quick Advisors LLC now owns 98,893 shares of the computer hardware maker’s stock valued at $12,217,000 after purchasing an additional 88,936 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of NVIDIA by 925.0% in the second quarter. Foundations Investment Advisors LLC now owns 443,590 shares of the computer hardware maker’s stock valued at $54,801,000 after purchasing an additional 400,314 shares during the last quarter. Pettee Investors Inc. boosted its position in NVIDIA by 807.6% during the second quarter. Pettee Investors Inc. now owns 45,650 shares of the computer hardware maker’s stock worth $5,640,000 after acquiring an additional 40,620 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its position in NVIDIA by 1,151.6% during the second quarter. Beacon Bridge Wealth Partners LLC now owns 5,920 shares of the computer hardware maker’s stock worth $731,000 after acquiring an additional 5,447 shares during the last quarter. Finally, Weaver Capital Management LLC boosted its position in NVIDIA by 931.5% during the second quarter. Weaver Capital Management LLC now owns 67,029 shares of the computer hardware maker’s stock worth $8,281,000 after acquiring an additional 60,531 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were 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 of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,077,403 shares of company stock valued at $486,699,184 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $124.92 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 73.05, 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. The firm’s fifty day moving average price is $116.26 and its 200 day moving average price is $109.21.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during 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%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVDA. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. Needham & Company LLC raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays decreased their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Finally, Sanford C. Bernstein raised their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.