NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,281.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 466,028 shares of the computer hardware maker’s stock after purchasing an additional 432,303 shares during the period. NVIDIA comprises 4.1% of Meeder Advisory Services Inc.’s investment portfolio, making the stock its 6th largest position. Meeder Advisory Services Inc.’s holdings in NVIDIA were worth $57,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NVDA. Morningstar Investment Management LLC increased its stake in shares of NVIDIA by 26,848.3% during the second quarter. Morningstar Investment Management LLC now owns 135,550 shares of the computer hardware maker’s stock valued at $16,746,000 after buying an additional 135,047 shares during the period. Abbrea Capital LLC grew its stake in NVIDIA by 785.0% in the second quarter. Abbrea Capital LLC now owns 224,648 shares of the computer hardware maker’s stock worth $27,753,000 after purchasing an additional 199,263 shares during the period. DekaBank Deutsche Girozentrale grew its stake in NVIDIA by 674.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 16,204,732 shares of the computer hardware maker’s stock worth $2,030,346,000 after purchasing an additional 14,112,927 shares during the period. Meeder Asset Management Inc. grew its stake in NVIDIA by 647.1% in the second quarter. Meeder Asset Management Inc. now owns 693,693 shares of the computer hardware maker’s stock worth $85,699,000 after purchasing an additional 600,840 shares during the period. Finally, Ullmann Wealth Partners Group LLC grew its stake in NVIDIA by 966.1% in the second quarter. Ullmann Wealth Partners Group LLC now owns 23,060 shares of the computer hardware maker’s stock worth $2,849,000 after purchasing an additional 20,897 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 4.7 %

NVIDIA stock opened at $131.60 on Wednesday. The stock has a market capitalization of $3.24 trillion, a PE ratio of 76.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The business has a 50 day simple moving average of $119.84 and a 200-day simple moving average of $111.52. 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 issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Evercore ISI boosted their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Raymond James boosted their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Truist Financial boosted their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, HSBC upped their price target 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 assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $142.46.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,116,270 shares of company stock valued at $362,016,327 over the last ninety days. Insiders own 4.23% of the company’s stock.

About NVIDIA

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.