Catalyst Capital Advisors LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Catalyst Capital Advisors LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 870.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,653 shares of the computer hardware maker’s stock after acquiring an additional 7,761 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in NVIDIA were worth $1,069,000 at the end of the most recent quarter.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Citigroup lifted their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Needham & Company LLC upped their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, UBS Group lifted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

Shares of NVDA stock opened at $115.59 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average price of $116.88 and a 200-day moving average price of $106.63. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The firm has a market capitalization of $2.84 trillion, a PE ratio of 67.60, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business 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%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, equities research analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has authorized a share repurchase plan 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 plans are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.