NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Essex LLC

Essex LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 834.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,294 shares of the computer hardware maker’s stock after purchasing an additional 32,410 shares during the period. NVIDIA makes up 1.0% of Essex LLC’s portfolio, making the stock its 23rd biggest position. Essex LLC’s holdings in NVIDIA were worth $4,484,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in NVIDIA by 829.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the last quarter. Swedbank AB boosted its stake in NVIDIA by 798.8% during the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares during the last quarter. Norges Bank bought a new position in NVIDIA during the 4th quarter valued at $14,606,369,000. Finally, Chevy Chase Trust Holdings LLC boosted its stake in NVIDIA by 861.8% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 17,396,590 shares of the computer hardware maker’s stock valued at $2,149,175,000 after acquiring an additional 15,587,911 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 3.5 %

Shares of NASDAQ NVDA opened at $106.47 on Tuesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a market cap of $2.61 trillion, a price-to-earnings ratio of 62.26, a P/E/G ratio of 0.93 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 business has a fifty day simple moving average of $118.26 and a 200-day simple moving average of $105.08.

NVIDIA (NASDAQ:NVDA) last posted 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. 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%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the transaction, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at $8,180,034,219.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $107.44, for a total value of $12,892,800.00. Following the transaction, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares in the company, valued at $671,632,585.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,725,633 shares of company stock valued at $454,719,722. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Tigress Financial increased their price objective on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Susquehanna raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.10.

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.