Provident Co of the Employees of the Hebrew University LTD Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Provident Co of the Employees of the Hebrew University LTD raised its position in NVIDIA Co. (NASDAQ:NVDA) by 629.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 19,660 shares of the computer hardware maker’s stock after purchasing an additional 16,963 shares during the period. NVIDIA comprises approximately 2.9% of Provident Co of the Employees of the Hebrew University LTD’s holdings, making the stock its 15th largest position. Provident Co of the Employees of the Hebrew University LTD’s holdings in NVIDIA were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVDA. Jefferies Financial Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Stifel Nicolaus raised their price target on NVIDIA from $91.00 to $108.50 and gave the company a “buy” rating in a report on Monday, May 20th. Bank of America reaffirmed a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Argus upped their price target on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now directly owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the sale, the director now owns 9,141,240 shares in the company, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the sale, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 0.0 %

Shares of NASDAQ:NVDA opened at $119.10 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The stock’s 50-day moving average price is $117.42 and its two-hundred day moving average price is $105.93. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.93 trillion, a price-to-earnings ratio of 69.65, a PEG ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, research 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. Investors of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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.