MBA Advisors LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

MBA Advisors LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 972.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,575 shares of the computer hardware maker’s stock after buying an additional 10,496 shares during the period. MBA Advisors LLC’s holdings in NVIDIA were worth $1,430,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Bank of New York Mellon Corp grew its holdings in 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. lifted its position in shares of NVIDIA by 696.6% during 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 buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew 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 acquiring an additional 57,160,191 shares during the period. Swedbank AB increased 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 worth $4,820,576,000 after acquiring an additional 34,678,944 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in NVIDIA by 858.4% during the second quarter. Principal Financial Group Inc. now owns 34,341,377 shares of the computer hardware maker’s stock worth $4,242,534,000 after acquiring an additional 30,758,341 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 80,094,995 shares in the company, valued at approximately $10,015,078,174.80. The disclosure for this sale can be found here. Insiders sold 4,352,303 shares of company stock worth $521,745,907 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.2 %

NASDAQ NVDA opened at $123.51 on Thursday. 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 firm has a market cap 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 firm has a 50 day simple moving average of $115.64 and a 200-day simple moving average of $107.64. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

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 given 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 (DPR) is presently 2.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NVDA shares. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Tigress Financial increased their target price on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Barclays decreased their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 10th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.