Matrix Private Capital Group LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Matrix Private Capital Group LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,028.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 23,735 shares of the computer hardware maker’s stock after purchasing an additional 21,632 shares during the quarter. NVIDIA makes up approximately 1.8% of Matrix Private Capital Group LLC’s holdings, making the stock its 13th biggest holding. Matrix Private Capital Group LLC’s holdings in NVIDIA were worth $2,932,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Vanguard Group Inc. increased its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% during 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 acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the 2nd 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 purchasing an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $141.25 on Wednesday. The stock has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 66.25, a PEG ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $144.42. The company has a 50-day simple moving average of $124.74 and a 200-day simple moving average of $115.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 5,852,480 shares in the company, valued at $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 have sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Raymond James increased their target price on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. KeyCorp increased their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, HSBC lifted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.