NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,031.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,997 shares of the computer hardware maker’s stock after buying an additional 107,564 shares during the period. NVIDIA comprises approximately 3.8% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Westover Capital Advisors LLC’s holdings in NVIDIA were worth $14,577,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in NVIDIA by 4.3% in the first 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 during the period. Bank of New York Mellon Corp increased its holdings in NVIDIA by 854.1% in 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 purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. increased its holdings in NVIDIA by 696.6% in 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 period. American Century Companies Inc. increased its holdings in NVIDIA by 882.4% in the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after purchasing an additional 66,151,750 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in NVIDIA by 829.0% in the second 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 purchasing an additional 57,160,191 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on NVDA shares. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Wells Fargo & Company upped their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.46.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 3,116,270 shares of company stock worth $362,016,327 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.1 %

NASDAQ:NVDA opened at $135.72 on Thursday. 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 firm has a market cap of $3.34 trillion, a price-to-earnings ratio of 79.37, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The firm has a 50-day moving average price of $120.58 and a two-hundred day moving average price of $111.69.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during 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 revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

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

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.