Oliver Lagore Vanvalin Investment Group Buys 23,479 Shares of NVIDIA Co. (NASDAQ:NVDA)

Oliver Lagore Vanvalin Investment Group increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,335.6% during the second quarter, HoldingsChannel reports. The firm owned 25,237 shares of the computer hardware maker’s stock after acquiring an additional 23,479 shares during the period. NVIDIA comprises approximately 0.9% of Oliver Lagore Vanvalin Investment Group’s portfolio, making the stock its 21st biggest holding. Oliver Lagore Vanvalin Investment Group’s holdings in NVIDIA were worth $3,118,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc boosted its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of NVIDIA by 854.1% during the 2nd 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. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings 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 valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.4 %

Shares of NASDAQ NVDA opened at $139.34 on Thursday. The company has a market cap of $3.42 trillion, a price-to-earnings ratio of 65.42, a PEG ratio of 1.50 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $124.95 and its 200 day moving average is $115.35. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts expect 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. 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 dividend payout ratio (DPR) is currently 1.88%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Finally, HSBC raised their price target on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,516,270 shares of company stock worth $291,803,127. 4.23% of the stock is currently owned by 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.