Great Diamond Partners LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Great Diamond Partners LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 859.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,995 shares of the computer hardware maker’s stock after buying an additional 49,261 shares during the quarter. NVIDIA makes up approximately 1.6% of Great Diamond Partners LLC’s portfolio, making the stock its 13th largest holding. Great Diamond Partners LLC’s holdings in NVIDIA were worth $6,794,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NVIDIA by 854.1% in 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 acquiring an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. lifted 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 worth $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted 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 worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the last quarter. Finally, Swedbank AB grew its position in shares of NVIDIA by 798.8% in 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. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $116.26 on Tuesday. The company has a 50-day simple moving average of $115.75 and a 200-day simple moving average of $107.41. 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 stock has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 67.99, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVDA shares. Craig Hallum raised their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. 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 report on Tuesday, August 6th. Mizuho increased their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Robert W. Baird upped their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total transaction of $14,985,600.00. Following the completion of the transaction, the chief executive officer now directly owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $124.88, for a total value of $14,985,600.00. Following the completion of the transaction, the chief executive officer now owns 80,334,995 shares of the company’s stock, valued at approximately $10,032,234,175.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,472,303 shares of company stock valued at $536,731,507 over the last quarter. Corporate 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.