Hyman Charles D Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hyman Charles D raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 894.3% during the second quarter, HoldingsChannel reports. The fund owned 80,214 shares of the computer hardware maker’s stock after buying an additional 72,147 shares during the period. Hyman Charles D’s holdings in NVIDIA were worth $9,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Alpha Omega Wealth Management LLC purchased a new stake in shares of NVIDIA during the second quarter valued at $230,000. St. Johns Investment Management Company LLC lifted its stake in NVIDIA by 848.2% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 32,143 shares of the computer hardware maker’s stock valued at $3,971,000 after acquiring an additional 28,753 shares during the period. Pegasus Asset Management Inc. boosted its holdings in shares of NVIDIA by 892.1% during the 2nd quarter. Pegasus Asset Management Inc. now owns 78,095 shares of the computer hardware maker’s stock valued at $9,648,000 after acquiring an additional 70,223 shares during the last quarter. SlateStone Wealth LLC grew its stake in shares of NVIDIA by 655.8% in the second quarter. SlateStone Wealth LLC now owns 244,237 shares of the computer hardware maker’s stock worth $30,173,000 after acquiring an additional 211,920 shares during the period. Finally, Rational Advisors LLC raised its holdings in shares of NVIDIA by 418.8% during the second quarter. Rational Advisors LLC now owns 12,985 shares of the computer hardware maker’s stock valued at $1,604,000 after purchasing an additional 10,482 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Raymond James increased their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. UBS Group raised their target price on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the sale, the chief executive officer now owns 75,655,836 shares of the company’s stock, valued at approximately $8,460,592,139.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $115.59 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company’s fifty day moving average is $116.88 and its 200-day moving average is $106.63. The firm has a market cap of $2.84 trillion, a price-to-earnings ratio of 67.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 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 company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Equities analysts expect that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding 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 leadership believes its stock is undervalued.

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.