Parthenon LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Parthenon LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 777.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,950 shares of the computer hardware maker’s stock after purchasing an additional 22,105 shares during the quarter. Parthenon LLC’s holdings in NVIDIA were worth $3,082,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $131.60 on Wednesday. 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 Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The business has a fifty day simple moving average of $119.84 and a 200-day simple moving average of $111.52. The stock has a market cap of $3.24 trillion, a PE ratio of 76.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67.

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 return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced 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. 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 has authorized a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase 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 shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVDA shares. Mizuho increased their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.46.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was 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. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at $9,569,997,238.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. 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 a total of 3,116,270 shares of company stock worth $362,016,327 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.