NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Ridgewood Investments LLC

Ridgewood Investments LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 970.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,580 shares of the computer hardware maker’s stock after purchasing an additional 6,872 shares during the quarter. Ridgewood Investments LLC’s holdings in NVIDIA were worth $936,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NVDA. Bank of New York Mellon Corp grew its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after acquiring an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the period. Swedbank AB raised its stake in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after purchasing an additional 34,678,944 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter valued at about $14,606,369,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.6 %

Shares of NVIDIA stock opened at $116.00 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a fifty day moving average price of $115.99 and a 200 day moving average price of $107.11. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market cap of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue 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 research analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a share repurchase program 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors 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 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 is presently 2.34%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 385,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,692,303 shares of company stock worth $444,047,307. 4.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Craig Hallum boosted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Tigress Financial increased their price objective on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, HSBC increased their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target 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.