Beacon Capital Management LLC Has $8.54 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Beacon Capital Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1,006.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 69,111 shares of the computer hardware maker’s stock after buying an additional 62,865 shares during the quarter. NVIDIA makes up approximately 1.6% of Beacon Capital Management LLC’s portfolio, making the stock its 11th largest holding. Beacon Capital Management LLC’s holdings in NVIDIA were worth $8,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 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 acquiring an additional 57,160,191 shares during the period. Swedbank AB grew its stake in shares of NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after acquiring an additional 34,678,944 shares during the last quarter. Norges Bank bought a new position in NVIDIA during the fourth quarter worth $14,606,369,000. Finally, New York State Teachers Retirement System boosted its holdings in NVIDIA by 852.4% in the 2nd quarter. New York State Teachers Retirement System now owns 23,764,084 shares of the computer hardware maker’s stock valued at $2,935,815,000 after purchasing an additional 21,268,926 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVDA. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Susquehanna increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Finally, Robert W. Baird raised their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated 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 transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total value of $12,699,000.00. Following the transaction, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’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 of the company’s stock, valued at approximately $8,460,592,139.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,845,633 shares of company stock worth $465,330,122. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $119.10 on Friday. The firm’s 50 day moving average price is $117.42 and its two-hundred 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 stock has a market cap of $2.93 trillion, a PE ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued 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 for 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.