NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Selkirk Management LLC

Selkirk Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 51,000 shares of the computer hardware maker’s stock after buying an additional 45,900 shares during the period. NVIDIA makes up 3.0% of Selkirk Management LLC’s holdings, making the stock its 11th biggest holding. Selkirk Management LLC’s holdings in NVIDIA were worth $6,301,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA in the first quarter worth about $45,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.25 on Wednesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm 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 business’s fifty day moving average price is $124.74 and its 200 day moving average price is $115.18.

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

NVIDIA Cuts Dividend

The business also recently announced 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 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 1.88%.

NVIDIA declared that its Board of Directors 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, August 26th. Bank of America increased their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,636,270 shares of company stock worth $305,367,927 in the last ninety days. 4.23% of the stock is owned by corporate insiders.

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.