Dimension Capital Management LLC Purchases 13,670 Shares of NVIDIA Co. (NASDAQ:NVDA)

Dimension Capital Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 743.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,508 shares of the computer hardware maker’s stock after purchasing an additional 13,670 shares during the period. Dimension Capital Management LLC’s holdings in NVIDIA were worth $1,916,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at 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 purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $141.25 on Wednesday. The company has a market capitalization of $3.46 trillion, a PE ratio of 66.25, a price-to-earnings-growth ratio of 1.50 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 company’s fifty day moving average price is $124.74 and its 200 day moving average price is $115.18. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42.

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

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Craig Hallum lifted their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Raymond James increased their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. KeyCorp increased their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Truist Financial boosted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA 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 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,636,270 shares of company stock valued at $305,367,927 in the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA Company 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.