Marco Investment Management LLC Buys 45,447 Shares of NVIDIA Co. (NASDAQ:NVDA)

Marco Investment Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 837.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,872 shares of the computer hardware maker’s stock after buying an additional 45,447 shares during the quarter. Marco Investment Management LLC’s holdings in NVIDIA were worth $6,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Able Wealth Management LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $32,000. Counterweight Ventures LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $3,520,000. Beaird Harris Wealth Management LLC grew its stake in shares of NVIDIA by 12.5% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 1,505 shares of the computer hardware maker’s stock worth $745,000 after purchasing an additional 167 shares during the last quarter. Abel Hall LLC bought a new stake in NVIDIA during the fourth quarter valued at $1,413,000. Finally, EP Wealth Advisors LLC boosted its position in NVIDIA by 3.1% during the fourth quarter. EP Wealth Advisors LLC now owns 79,136 shares of the computer hardware maker’s stock valued at $39,190,000 after acquiring an additional 2,379 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

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

NVIDIA Trading Down 0.0 %

Shares of NVDA stock 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 has a market cap of $3.31 trillion, a P/E ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. 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 company has a 50 day moving average of $118.54 and a 200-day moving average of $110.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business earned $0.25 EPS. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors 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 $0.01 dividend. The ex-dividend date was 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 1.88%.

Analysts Set New Price Targets

A number of brokerages have commented on NVDA. Benchmark reaffirmed a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Raymond James upped their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus 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.