Seven Mile Advisory Has $14.17 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Seven Mile Advisory lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 906.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,674 shares of the computer hardware maker’s stock after acquiring an additional 103,284 shares during the quarter. NVIDIA makes up approximately 10.4% of Seven Mile Advisory’s portfolio, making the stock its 2nd largest position. Seven Mile Advisory’s holdings in NVIDIA were worth $14,167,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Hawaiian Bank grew its position in NVIDIA by 12.6% during the first quarter. First Hawaiian Bank now owns 17,168 shares of the computer hardware maker’s stock valued at $15,512,000 after buying an additional 1,922 shares during the period. Carolina Wealth Advisors LLC grew its position in NVIDIA by 102.0% during the first quarter. Carolina Wealth Advisors LLC now owns 99 shares of the computer hardware maker’s stock valued at $89,000 after buying an additional 50 shares during the period. Pensionfund Sabic bought a new position in NVIDIA during the first quarter valued at about $904,000. Benchmark Wealth Management LLC bought a new position in NVIDIA during the first quarter valued at about $271,000. Finally, Tompkins Financial Corp grew its position in NVIDIA by 5.4% during the first quarter. Tompkins Financial Corp now owns 23,194 shares of the computer hardware maker’s stock valued at $20,957,000 after buying an additional 1,188 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Finally, Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five investment 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. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.46.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. 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 sold 2,996,270 shares of company stock worth $347,729,127. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVDA opened at $136.93 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The stock has a 50-day moving average price of $121.22 and a 200-day moving average price of $111.86. The firm has a market cap of $3.37 trillion, a PE ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase 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 stock is undervalued.

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.