Bfsg LLC Acquires 172,623 Shares of NVIDIA Co. (NASDAQ:NVDA)

Bfsg LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 891.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,992 shares of the computer hardware maker’s stock after buying an additional 172,623 shares during the period. NVIDIA accounts for about 3.0% of Bfsg LLC’s portfolio, making the stock its 4th biggest holding. Bfsg LLC’s holdings in NVIDIA were worth $23,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. boosted its stake in NVIDIA by 696.6% in 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 during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in NVIDIA by 829.0% in 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 during the period. Finally, Swedbank AB grew its holdings in NVIDIA by 798.8% in 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 buying an additional 34,678,944 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 1.6 %

NASDAQ NVDA opened at $116.00 on Monday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization 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. The business’s 50-day moving average price is $115.99 and its two-hundred day moving average price is $107.24.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Craig Hallum lifted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Raymond James boosted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Needham & Company LLC increased their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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 data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the sale, the chief executive officer now directly owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 385,000 shares of the business’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 value of $50,334,900.00. Following the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the sale, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,472,303 shares of company stock worth $417,461,507 over the last quarter. Company insiders own 4.23% of the company’s stock.

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.