Moloney Securities Asset Management LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Moloney Securities Asset Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 878.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,747 shares of the computer hardware maker’s stock after acquiring an additional 103,024 shares during the quarter. NVIDIA accounts for approximately 2.0% of Moloney Securities Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Moloney Securities Asset Management LLC’s holdings in NVIDIA were worth $14,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of NVIDIA by 4.3% in 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NVIDIA by 854.1% in the second 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 acquiring an additional 163,482,580 shares during the period. Baillie Gifford & Co. increased its position in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 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 boosted its position 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 worth $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.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 100,110 shares of the company’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 approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of the firm’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 completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. Insiders have sold a total of 4,352,303 shares of company stock worth $521,745,907 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Argus raised their price target on shares of NVIDIA from $110.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Wells Fargo & Company raised their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Craig Hallum boosted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays decreased their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Finally, Needham & Company LLC upped their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five 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 stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Trading Up 2.2 %

NASDAQ:NVDA opened at $123.51 on Thursday. The company has a market cap of $3.03 trillion, a PE ratio of 72.23, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. 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 Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a 50 day simple moving average of $115.64 and a two-hundred day simple moving average of $107.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has approved a stock buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 2.34%.

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.