Edgemoor Investment Advisors Inc. Has $20.36 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Edgemoor Investment Advisors Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 946.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 164,798 shares of the computer hardware maker’s stock after acquiring an additional 149,044 shares during the period. NVIDIA accounts for 1.9% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 14th largest position. Edgemoor Investment Advisors Inc.’s holdings in NVIDIA were worth $20,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NVDA. Public Employees Retirement System of Ohio grew its holdings in shares of NVIDIA by 2.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,253,650 shares of the computer hardware maker’s stock worth $620,833,000 after purchasing an additional 31,004 shares in the last quarter. O Dell Group LLC grew its holdings in shares of NVIDIA by 10.6% during the 4th quarter. O Dell Group LLC now owns 597 shares of the computer hardware maker’s stock worth $296,000 after purchasing an additional 57 shares in the last quarter. Aspect Partners LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $150,000. Harbour Investments Inc. grew its holdings in shares of NVIDIA by 6.9% during the 4th quarter. Harbour Investments Inc. now owns 16,931 shares of the computer hardware maker’s stock worth $8,385,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Oarsman Capital Inc. grew its holdings in shares of NVIDIA by 9.0% during the 4th quarter. Oarsman Capital Inc. now owns 7,777 shares of the computer hardware maker’s stock worth $3,851,000 after purchasing an additional 642 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were 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 owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the completion of the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were 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 owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,356,270 shares of company stock valued at $391,787,127. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA opened at $134.80 on Friday. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67. The business’s 50-day moving average price is $118.54 and its two-hundred day moving average price is $110.62. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock repurchase 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 often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent analyst reports. Raymond James boosted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group boosted their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Melius Research boosted their price target on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Tuesday. Finally, Mizuho boosted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five 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.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $142.46.

NVIDIA 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.