iA Global Asset Management Inc. Has $435.61 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

iA Global Asset Management Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 898.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,526,089 shares of the computer hardware maker’s stock after purchasing an additional 3,173,000 shares during the period. NVIDIA accounts for approximately 4.8% of iA Global Asset Management Inc.’s holdings, making the stock its 3rd biggest holding. iA Global Asset Management Inc.’s holdings in NVIDIA were worth $435,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aveo Capital Partners LLC grew its position in shares of NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares during the last quarter. Financial Advisors Network Inc. grew its position in shares of NVIDIA by 18.6% during the 4th quarter. Financial Advisors Network Inc. now owns 2,731 shares of the computer hardware maker’s stock valued at $1,352,000 after buying an additional 428 shares during the last quarter. Union Savings Bank grew its position in shares of NVIDIA by 3.4% during the 4th quarter. Union Savings Bank now owns 890 shares of the computer hardware maker’s stock valued at $441,000 after buying an additional 29 shares during the last quarter. Finally, Tidemark LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $470,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s 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 owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s 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 owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the sale, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,352,303 shares of company stock valued at $521,745,907. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 4.0 %

Shares of NASDAQ:NVDA opened at $120.87 on Wednesday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 70.68, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. 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 company has a 50 day moving average price of $115.64 and a 200 day moving average price of $107.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. KeyCorp upped their target price 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. Wells Fargo & Company upped their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Susquehanna upped their target price 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 investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

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.