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

MTM Investment Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,920 shares of the computer hardware maker’s stock after buying an additional 8,028 shares during the period. MTM Investment Management LLC’s holdings in NVIDIA were worth $1,102,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the first quarter worth about $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA in the first quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners grew its holdings in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.0 %

NVDA stock opened at $115.59 on Wednesday. The firm has a market capitalization of $2.84 trillion, a PE ratio of 67.60, a PEG ratio of 1.06 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The business’s 50 day simple moving average is $116.88 and its 200 day simple moving average is $106.63.

NVIDIA (NASDAQ:NVDA) last posted 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 during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’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 firm posted $0.25 EPS. As a group, research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVDA. Susquehanna raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a research note on Monday, August 19th. 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. Finally, Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the completion of the sale, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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 directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,845,633 shares of company stock worth $465,330,122. Insiders own 4.23% of the company’s stock.

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.