NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Westchester Capital Management Inc.

Westchester Capital Management Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 930.3% in the second quarter, HoldingsChannel reports. The firm owned 3,235 shares of the computer hardware maker’s stock after acquiring an additional 2,921 shares during the period. Westchester Capital Management Inc.’s holdings in NVIDIA were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aveo Capital Partners LLC raised its position in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after buying an additional 549 shares in the last quarter. Gryphon Financial Partners LLC raised its position in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after buying an additional 5,496 shares in the last quarter. Allegheny Financial Group LTD raised its position in shares of NVIDIA by 13.8% during the 4th quarter. Allegheny Financial Group LTD now owns 711 shares of the computer hardware maker’s stock worth $352,000 after buying an additional 86 shares in the last quarter. Missouri Trust & Investment Co raised its position in shares of NVIDIA by 41.8% during the 4th quarter. Missouri Trust & Investment Co now owns 1,768 shares of the computer hardware maker’s stock worth $876,000 after buying an additional 521 shares in the last quarter. Finally, Summit X LLC raised its position in shares of NVIDIA by 13.9% during the 4th quarter. Summit X LLC now owns 14,605 shares of the computer hardware maker’s stock worth $7,236,000 after buying an additional 1,779 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley boosted their price target on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Susquehanna boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock worth $444,047,307 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

Shares of NASDAQ:NVDA opened at $116.00 on Friday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company’s fifty day moving average is $115.99 and its 200-day moving average is $107.11. The company has a market capitalization of $2.85 trillion, a PE ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.