Invesco LLC Purchases 31,017 Shares of NVIDIA Co. (NASDAQ:NVDA)

Invesco LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 897.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,475 shares of the computer hardware maker’s stock after acquiring an additional 31,017 shares during the period. NVIDIA accounts for 1.8% of Invesco LLC’s investment portfolio, making the stock its 12th biggest position. Invesco LLC’s holdings in NVIDIA were worth $4,259,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its position in shares of NVIDIA by 674.8% in the 2nd quarter. Global X Japan Co. Ltd. now owns 378,035 shares of the computer hardware maker’s stock worth $46,702,000 after purchasing an additional 329,243 shares during the period. LGT Fund Management Co Ltd. lifted its position in shares of NVIDIA by 2,995.9% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 205,193 shares of the computer hardware maker’s stock worth $25,776,000 after purchasing an additional 198,565 shares during the period. Lane & Associates LLC lifted its position in shares of NVIDIA by 1,452.5% in the 2nd quarter. Lane & Associates LLC now owns 13,274 shares of the computer hardware maker’s stock worth $1,640,000 after purchasing an additional 12,419 shares during the period. LGT Group Foundation lifted its position in shares of NVIDIA by 801.4% in the 2nd quarter. LGT Group Foundation now owns 1,520,776 shares of the computer hardware maker’s stock worth $191,040,000 after purchasing an additional 1,352,064 shares during the period. Finally, Edgemoor Investment Advisors Inc. lifted its position in shares of NVIDIA by 946.1% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 164,798 shares of the computer hardware maker’s stock worth $20,359,000 after purchasing an additional 149,044 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now directly owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,356,270 shares of company stock valued at $391,787,127 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $134.80 on Friday. The firm has a 50 day moving average of $118.54 and a 200 day moving average of $110.62. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 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 quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The company also recently declared 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. 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. HSBC raised their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wedbush reissued an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a research report on Thursday. Finally, DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.46.

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.