Industrial Alliance Investment Management Inc. Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Industrial Alliance Investment Management Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,140 shares of the computer hardware maker’s stock after acquiring an additional 512 shares during the period. NVIDIA comprises about 0.3% of Industrial Alliance Investment Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Industrial Alliance Investment Management Inc.’s holdings in NVIDIA were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. UBS Group lifted their price target on NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Argus lifted their price target on NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Wells Fargo & Company lifted their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Mizuho lifted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report 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 assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,352,303 shares of company stock valued at $521,745,907. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $120.87 on Wednesday. The company’s fifty day moving average is $115.64 and its two-hundred day moving average is $107.64. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a market cap of $2.97 trillion, a P/E ratio of 70.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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. 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 period in the previous year, the business earned $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase 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.

About NVIDIA

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.