NVIDIA Co. (NASDAQ:NVDA) is Rathbones Group PLC’s 6th Largest Position

Rathbones Group PLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 811.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,527,433 shares of the computer hardware maker’s stock after buying an additional 4,030,673 shares during the quarter. NVIDIA makes up about 3.0% of Rathbones Group PLC’s portfolio, making the stock its 6th largest position. Rathbones Group PLC’s holdings in NVIDIA were worth $559,319,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth about $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 acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new position in NVIDIA during the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter valued at approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $138.00 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.89. The stock’s fifty day moving average is $121.88 and its 200 day moving average is $112.19. The stock has a market cap of $3.39 trillion, a P/E ratio of 80.70, 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 quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its 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 company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the transaction, the chief executive officer now owns 78,054,995 shares in the company, valued at approximately $9,151,167,613.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the sale, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’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 of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock worth $347,729,127 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp upped their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Jefferies Financial Group upped their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, TD Cowen upgraded NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.