Montag & Caldwell LLC Has $22.71 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Montag & Caldwell LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 349.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,796 shares of the computer hardware maker’s stock after buying an additional 142,881 shares during the period. NVIDIA makes up approximately 4.6% of Montag & Caldwell LLC’s investment portfolio, making the stock its 5th biggest position. Montag & Caldwell LLC’s holdings in NVIDIA were worth $22,706,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NVDA. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the period. Baillie Gifford & Co. boosted its stake in shares of NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of NVIDIA by 882.4% in the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after buying an additional 66,151,750 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $138.00 on Friday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm’s 50-day simple moving average is $121.88 and its 200 day simple moving average is $112.35.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. 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 1.88%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00. Following the transaction, the chief executive officer now owns 78,294,995 shares of the company’s stock, valued at approximately $9,569,997,238.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $122.23, for a total value of $14,667,600.00. Following the transaction, the chief executive officer now owns 78,294,995 shares in the company, valued at $9,569,997,238.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 2,996,270 shares of company stock valued at $347,729,127. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVDA shares. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Evercore ISI upped their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp upped their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

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.