GHP Investment Advisors Inc. Purchases 9,348 Shares of NVIDIA Co. (NASDAQ:NVDA)

GHP Investment Advisors Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 922.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,361 shares of the computer hardware maker’s stock after buying an additional 9,348 shares during the period. GHP Investment Advisors Inc.’s holdings in NVIDIA were worth $1,280,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NVDA. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Bank of New York Mellon Corp lifted its stake 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. lifted its stake in shares of 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 during the period. American Century Companies Inc. lifted its stake in shares of NVIDIA by 882.4% in the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after purchasing an additional 66,151,750 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 3.1 %

NVIDIA stock opened at $135.72 on Thursday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $3.34 trillion, a P/E ratio of 79.37, a PEG ratio of 1.20 and a beta of 1.67. The stock has a 50-day simple moving average of $120.58 and a 200 day simple moving average of $111.69.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The firm 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $119.06, for a total transaction of $14,287,200.00. Following the sale, the chief executive officer now owns 78,414,995 shares of the company’s stock, valued at $9,336,089,304.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,116,270 shares of company stock worth $362,016,327 over the last three months. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Finally, Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five equities research 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 company’s stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.46.

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.