DT Investment Partners LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

DT Investment Partners LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 981.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,230 shares of the computer hardware maker’s stock after purchasing an additional 22,898 shares during the period. DT Investment Partners LLC’s holdings in NVIDIA were worth $3,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the completion of the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at approximately $64,582,043.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The disclosure for this sale can be found here. Insiders sold a total of 3,845,633 shares of company stock valued at $465,330,122 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 1.9 %

Shares of NASDAQ NVDA opened at $119.14 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock’s 50-day simple moving average is $117.55 and its 200-day simple moving average is $105.46. The firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.67, a PEG ratio of 0.93 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Analyst Ratings Changes

A number of analysts recently weighed in on NVDA shares. Evercore ISI increased their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. TD Cowen boosted their target price on NVIDIA from $140.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group upped their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.