Mirova US LLC Buys 5,201,415 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mirova US LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 903.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,777,147 shares of the computer hardware maker’s stock after buying an additional 5,201,415 shares during the period. NVIDIA accounts for 8.9% of Mirova US LLC’s investment portfolio, making the stock its largest position. Mirova US LLC’s holdings in NVIDIA were worth $713,709,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position 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 valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the 1st quarter valued at $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $122.78, for a total value of $14,733,600.00. Following the completion of the sale, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at $9,819,329,886.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $122.78, for a total transaction of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares in the company, valued at approximately $9,819,329,886.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,397,403 shares of company stock valued at $526,762,784 in the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $121.40 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $115.81 and a two-hundred day moving average of $107.87. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a market cap of $2.98 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase 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 reacquire 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 shares are undervalued.

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%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NVDA shares. HSBC upped their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Westpark Capital upped their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group upped their price objective on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. Five 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 stock presently has a consensus rating of “Moderate Buy” and an average price target 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.