Delaney Dennis R Has $10.11 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Delaney Dennis R lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 844.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 81,830 shares of the computer hardware maker’s stock after acquiring an additional 73,168 shares during the quarter. NVIDIA accounts for about 5.5% of Delaney Dennis R’s investment portfolio, making the stock its 2nd largest holding. Delaney Dennis R’s holdings in NVIDIA were worth $10,109,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the first quarter worth $30,000. Norwood Financial Corp purchased a new stake in NVIDIA during the first quarter valued at $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,756,270 shares of company stock valued at $318,992,727. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.8 %

Shares of NVDA stock opened at $139.56 on Thursday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42. The firm has a market capitalization of $3.42 trillion, a PE ratio of 65.46, a P/E/G ratio of 1.25 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. The stock’s 50-day simple moving average is $123.56 and its 200-day simple moving average is $113.50.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, 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 report on Thursday, August 29th. Five investment 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 company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.