Thoroughbred Financial Services LLC Purchases 716,602 Shares of NVIDIA Co. (NASDAQ:NVDA)

Thoroughbred Financial Services LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,033.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 785,933 shares of the computer hardware maker’s stock after acquiring an additional 716,602 shares during the period. NVIDIA accounts for about 6.5% of Thoroughbred Financial Services LLC’s holdings, making the stock its largest position. Thoroughbred Financial Services LLC’s holdings in NVIDIA were worth $97,094,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Truepoint Inc. increased its holdings 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 valued at $1,605,000 after acquiring an additional 11,709 shares during the last quarter. Consolidated Planning Corp grew its holdings in NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after buying an additional 75,046 shares during the last quarter. International Private Wealth Advisors LLC grew its holdings in 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. grew its holdings in 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 grew its holdings in 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. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Citigroup raised their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird raised their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group raised their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Five equities research 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.46.

NVIDIA Price Performance

NVIDIA stock opened at $135.72 on Thursday. 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 firm has a market cap of $3.34 trillion, a P/E ratio of 79.37, a P/E/G ratio of 1.20 and a beta of 1.67. The business’s fifty day moving average is $120.58 and its two-hundred day moving average is $111.69. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,116,270 shares of company stock worth $362,016,327 over the last 90 days. 4.23% of the stock is owned by insiders.

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.