Horizon Investment Services LLC Has $11.66 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Horizon Investment Services LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,365 shares of the computer hardware maker’s stock after acquiring an additional 84,934 shares during the period. NVIDIA comprises approximately 5.5% of Horizon Investment Services LLC’s portfolio, making the stock its biggest holding. Horizon Investment Services LLC’s holdings in NVIDIA were worth $11,658,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter valued at $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at $27,000. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and set a $165.00 price target on shares of NVIDIA in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Argus lifted their price objective on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Finally, Mizuho lifted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Up 1.7 %

Shares of NASDAQ NVDA opened at $124.92 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.07 trillion, a P/E ratio of 73.05, a PEG ratio of 1.05 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 firm has a 50-day simple moving average of $116.26 and a two-hundred day simple moving average of $109.49.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. 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 (DPR) is presently 2.34%.

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,957,403 shares of company stock valued at $471,267,184. 4.23% of the stock is currently owned by company insiders.

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.