Asset Management Group Inc. Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Asset Management Group Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 902.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,810 shares of the computer hardware maker’s stock after acquiring an additional 6,131 shares during the period. Asset Management Group Inc.’s holdings in NVIDIA were worth $841,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% in the second 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 buying an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in NVIDIA by 696.6% during 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 acquiring an additional 71,757,065 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVDA has been the topic of a number of recent research reports. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Five research 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 MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,636,270 shares of company stock valued at $305,367,927 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $140.41 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.44 trillion, a P/E ratio of 65.86, a PEG ratio of 1.52 and a beta of 1.67. The business has a 50 day simple moving average of $123.56 and a 200-day simple moving average of $113.50. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42.

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 analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its board has initiated a stock buyback program 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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.