Thomas Story & Son LLC Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Thomas Story & Son LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 4,550 shares of the computer hardware maker’s stock, valued at approximately $562,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Matrix Capital Management Company LP raised its holdings in shares of NVIDIA by 4.6% in the fourth quarter. Matrix Capital Management Company LP now owns 3,308,512 shares of the computer hardware maker’s stock valued at $1,638,441,000 after buying an additional 144,812 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of NVIDIA by 1,259.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,403,384 shares of the computer hardware maker’s stock valued at $694,984,000 after buying an additional 1,300,125 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of NVIDIA by 6.5% in the fourth quarter. Gabelli Funds LLC now owns 165,529 shares of the computer hardware maker’s stock valued at $81,973,000 after buying an additional 10,078 shares during the last quarter. Cibc World Markets Corp raised its holdings in shares of NVIDIA by 47.5% in the fourth quarter. Cibc World Markets Corp now owns 948,181 shares of the computer hardware maker’s stock valued at $469,558,000 after buying an additional 305,546 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in shares of NVIDIA by 21.6% in the fourth quarter. Pinebridge Investments L.P. now owns 794,171 shares of the computer hardware maker’s stock valued at $393,284,000 after buying an additional 141,317 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $124.92 on Friday. 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 company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 73.05, a PEG ratio of 1.05 and a beta of 1.67. The company’s 50 day simple moving average is $116.26 and its 200 day simple moving average is $109.21. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid 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 was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on NVDA. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price target on shares of NVIDIA in a research note on Monday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Melius Research boosted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Mizuho boosted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the 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 transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the transaction, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,077,403 shares of company stock valued at $486,699,184. Company insiders own 4.23% of the company’s stock.

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.