NVIDIA Co. (NASDAQ:NVDA) Holdings Raised by Quest Investment Management LLC

Quest Investment Management LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 831.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 496,167 shares of the computer hardware maker’s stock after purchasing an additional 442,924 shares during the period. NVIDIA makes up 6.8% of Quest Investment Management LLC’s holdings, making the stock its 4th biggest holding. Quest Investment Management LLC’s holdings in NVIDIA were worth $61,296,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Annex Advisory Services LLC grew its holdings in NVIDIA by 3.3% during the 1st quarter. Annex Advisory Services LLC now owns 25,680 shares of the computer hardware maker’s stock worth $23,203,000 after acquiring an additional 820 shares in the last quarter. Flower City Capital grew its holdings in NVIDIA by 5.3% during the 1st quarter. Flower City Capital now owns 556 shares of the computer hardware maker’s stock worth $502,000 after acquiring an additional 28 shares in the last quarter. Riverview Trust Co grew its holdings in NVIDIA by 16.5% during the 1st quarter. Riverview Trust Co now owns 1,749 shares of the computer hardware maker’s stock worth $1,580,000 after acquiring an additional 248 shares in the last quarter. Gilman Hill Asset Management LLC boosted its holdings in shares of NVIDIA by 2.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 3,477 shares of the computer hardware maker’s stock valued at $3,142,000 after buying an additional 99 shares in the last quarter. Finally, Fermata Advisors LLC boosted its holdings in shares of NVIDIA by 38.4% in the 1st quarter. Fermata Advisors LLC now owns 2,341 shares of the computer hardware maker’s stock valued at $2,116,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Mizuho upped their price target 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 reiterated a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report 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 target for the company in a research report on Tuesday, August 6th. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. 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, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents 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 sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is owned by company insiders.

NVIDIA Trading Up 0.8 %

NASDAQ:NVDA opened at $141.54 on Friday. The stock’s 50 day moving average price is $123.91 and its 200 day moving average price is $113.68. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42. The company has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a P/E/G ratio of 1.52 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 earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock repurchase plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.