Skyline Advisors Inc. Buys 7,128 Shares of NVIDIA Co. (NASDAQ:NVDA)

Skyline Advisors Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 877.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,940 shares of the computer hardware maker’s stock after buying an additional 7,128 shares during the quarter. NVIDIA makes up 0.4% of Skyline Advisors Inc.’s investment portfolio, making the stock its 28th largest holding. Skyline Advisors Inc.’s holdings in NVIDIA were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in NVIDIA during the first quarter valued at approximately $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the first quarter worth $45,000. Finally, Coston McIsaac & Partners grew its holdings in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. Tigress Financial raised their price target on NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Bank of America restated a “buy” rating and issued a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, UBS Group raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, June 28th. The shares were sold at an average price of $125.04, for a total value of $15,004,800.00. Following the completion of the transaction, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at $10,015,078,174.80. The disclosure for this sale can be found here. Insiders sold a total of 4,352,303 shares of company stock valued at $521,745,907 over the last quarter. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 2.2 %

Shares of NVDA opened at $123.51 on Thursday. The company has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 72.23, a PEG ratio of 1.05 and a beta of 1.67. The stock’s 50-day moving average price is $115.64 and its 200-day moving average price 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 52 week low of $39.23 and a 52 week 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 for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared 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 is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA announced that its board has approved 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 reacquire 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.

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.