United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires Shares of 352,840 NVIDIA Co. (NASDAQ:NVDA)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, HoldingsChannel reports. The firm bought 352,840 shares of the computer hardware maker’s stock, valued at approximately $43,590,000. NVIDIA makes up approximately 1.8% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Baillie Gifford & Co. increased its stake in NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in NVIDIA by 892.0% during the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after purchasing an additional 42,025,613 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the completion of the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,356,270 shares of company stock worth $391,787,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 0.0 %

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

NVIDIA (NASDAQ:NVDA) last posted its 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 net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Tigress Financial lifted their target price on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Melius Research upped their price target on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Bank of America reissued a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a research note on Thursday, September 5th. Finally, Craig Hallum upped their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five 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 stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target 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.