United Services Automobile Association Acquires 626,080 Shares of NVIDIA Co. (NASDAQ:NVDA)

United Services Automobile Association grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 850.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 699,720 shares of the computer hardware maker’s stock after buying an additional 626,080 shares during the period. NVIDIA makes up 2.2% of United Services Automobile Association’s portfolio, making the stock its 11th largest holding. United Services Automobile Association’s holdings in NVIDIA were worth $86,443,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NVDA. Public Employees Retirement System of Ohio lifted its position in NVIDIA by 2.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,253,650 shares of the computer hardware maker’s stock worth $620,833,000 after buying an additional 31,004 shares during the last quarter. O Dell Group LLC raised its stake in shares of NVIDIA by 10.6% in the fourth quarter. O Dell Group LLC now owns 597 shares of the computer hardware maker’s stock valued at $296,000 after acquiring an additional 57 shares during the period. Aspect Partners LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $150,000. Harbour Investments Inc. lifted its holdings in shares of NVIDIA by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 16,931 shares of the computer hardware maker’s stock worth $8,385,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its stake in shares of NVIDIA by 9.0% during the 4th quarter. Oarsman Capital Inc. now owns 7,777 shares of the computer hardware maker’s stock worth $3,851,000 after purchasing an additional 642 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 0.0 %

NASDAQ:NVDA opened at $134.80 on Friday. 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 fifty day simple moving average of $118.54 and a 200-day simple moving average of $110.62. 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 $3.31 trillion, a P/E ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating 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 business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid 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 payout ratio is 1.88%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 of the company’s stock, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,356,270 shares of company stock valued at $391,787,127 in the last ninety days. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVDA shares. StockNews.com downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. The Goldman Sachs Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.46.

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.