Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 752.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,720 shares of the computer hardware maker’s stock after purchasing an additional 50,070 shares during the quarter. NVIDIA makes up about 1.9% of Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s portfolio, making the stock its 18th biggest holding. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s holdings in NVIDIA were worth $7,006,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of NVIDIA by 829.0% during the 2nd 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 purchasing an additional 57,160,191 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of NVIDIA by 798.8% during the 2nd 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. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.6 %

Shares of NVDA opened at $116.00 on Friday. The firm has a market cap of $2.85 trillion, a P/E ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company’s 50-day moving average price is $115.99 and its 200 day moving average price is $107.11. 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 (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA announced that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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 issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders have sold 3,692,303 shares of company stock worth $444,047,307 over the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. 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. Evercore ISI lifted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.