Quest Partners LLC Buys New Stake in NVIDIA Co. (NASDAQ:NVDA)

Quest Partners LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 216 shares of the computer hardware maker’s stock, valued at approximately $27,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. lifted its stake in NVIDIA by 696.6% during 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 purchasing an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after buying an additional 57,160,191 shares in the last quarter. Finally, Rhumbline Advisers grew its position in NVIDIA by 892.0% in the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after buying an additional 42,025,613 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $128.92, for a total value of $15,470,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction 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. Insiders have sold 3,201,270 shares of company stock worth $371,285,277 over the last three months. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup boosted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Tigress Financial upped their price target on shares of NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, StockNews.com cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

NASDAQ NVDA opened at $134.81 on Friday. The stock has a 50-day simple moving average of $117.48 and a 200 day simple moving average of $110.17. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The stock has a market capitalization of $3.32 trillion, a PE ratio of 78.84, a P/E/G ratio of 1.05 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 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%.

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.