NVIDIA Co. (NASDAQ:NVDA) is Schwartz Investment Counsel Inc.’s 7th Largest Position

Schwartz Investment Counsel Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 620,000 shares of the computer hardware maker’s stock after purchasing an additional 558,000 shares during the period. NVIDIA accounts for about 2.8% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 7th biggest position. Schwartz Investment Counsel Inc.’s holdings in NVIDIA were worth $76,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA in the 1st quarter valued at $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp acquired a new position in NVIDIA in the first quarter valued at $45,000. Finally, Coston McIsaac & Partners raised its holdings in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.0 %

Shares of NASDAQ NVDA opened at $119.10 on Friday. The firm’s 50 day moving average price is $117.42 and its 200 day moving average price is $105.93. 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 $2.93 trillion, a P/E ratio of 69.65, a price-to-earnings-growth 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.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, HSBC boosted their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the sale, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. Insiders have sold a total of 3,845,633 shares of company stock valued at $465,330,122 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Company 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.