Pecaut & CO. Acquires 25,176 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pecaut & CO. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 874.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 28,054 shares of the computer hardware maker’s stock after buying an additional 25,176 shares during the period. NVIDIA makes up approximately 1.3% of Pecaut & CO.’s portfolio, making the stock its 19th largest position. Pecaut & CO.’s holdings in NVIDIA were worth $3,466,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Truepoint Inc. grew its stake in shares of NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Consolidated Planning Corp grew its stake in shares of NVIDIA by 825.9% during the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after acquiring an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 1,452.1% in the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after buying an additional 7,028 shares during the last quarter. Lafayette Investments Inc. boosted its holdings in shares of NVIDIA by 901.8% in the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after buying an additional 5,140 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd boosted its holdings in shares of NVIDIA by 51.4% in the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock valued at $51,823,000 after buying an additional 141,930 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a report on Thursday, October 10th. HSBC raised their price target on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.46.

NVIDIA Trading Up 2.4 %

NASDAQ NVDA opened at $138.07 on Tuesday. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 80.74, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The business has a 50 day moving average price of $119.30 and a 200-day moving average price of $111.23. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has initiated a share repurchase 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 often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the transaction, the chief executive officer now owns 78,654,995 shares of the company’s stock, valued at $9,373,315,754.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,236,270 shares of company stock worth $376,316,727. 4.23% of the stock is owned by corporate insiders.

NVIDIA Company 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.