NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Paladin Advisory Group LLC

Paladin Advisory Group LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 548.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 18,960 shares of the computer hardware maker’s stock after purchasing an additional 16,038 shares during the quarter. NVIDIA accounts for about 1.8% of Paladin Advisory Group LLC’s portfolio, making the stock its 20th biggest position. Paladin Advisory Group LLC’s holdings in NVIDIA were worth $2,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Sumitomo Mitsui Trust Holdings Inc. increased its stake in NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares in the last quarter. Swedbank AB increased its stake in NVIDIA by 798.8% in the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after purchasing an additional 34,678,944 shares in the last quarter. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth about $14,606,369,000. New York State Teachers Retirement System increased its stake in NVIDIA by 852.4% in the 2nd quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock worth $2,935,815,000 after purchasing an additional 21,268,926 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in NVIDIA by 861.8% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock worth $2,149,175,000 after purchasing an additional 15,587,911 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Wells Fargo & Company lifted their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer reiterated an “outperform” rating and issued a $110.00 price objective on shares of NVIDIA in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $119.10 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a 50 day moving average of $117.42 and a 200-day moving average of $105.74. 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 stock has a market capitalization of $2.92 trillion, a P/E ratio of 69.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

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, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

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

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.