NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Studio Investment Management LLC

Studio Investment Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 514.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350 shares of the computer hardware maker’s stock after acquiring an additional 293 shares during the quarter. Studio Investment Management LLC’s holdings in NVIDIA were worth $43,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. Truepoint Inc. lifted its holdings in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the last quarter. Consolidated Planning Corp raised its stake in shares of NVIDIA by 825.9% in the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after purchasing an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC grew its position in NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after acquiring an additional 7,028 shares during the period. Lafayette Investments Inc. grew its position in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd grew its holdings in shares of NVIDIA by 51.4% during the second quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,236,270 shares of company stock valued at $376,316,727 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. Melius Research raised their price target on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Mizuho increased their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. UBS Group restated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Price Performance

NASDAQ NVDA opened at $134.80 on Monday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The firm’s fifty day simple moving average is $118.54 and its two-hundred day simple moving average is $110.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a P/E/G ratio of 1.20 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 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 the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board 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 typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid 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 dividend payout ratio is presently 1.88%.

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.