NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,034.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,569,347 shares of the computer hardware maker’s stock after buying an additional 1,431,047 shares during the quarter. NVIDIA accounts for 3.7% of Crossmark Global Holdings Inc.’s investment portfolio, making the stock its 2nd largest position. Crossmark Global Holdings Inc.’s holdings in NVIDIA were worth $193,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. increased its holdings in NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in NVIDIA by 829.0% in the 2nd 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 purchasing an additional 57,160,191 shares in the last quarter. Swedbank AB boosted its stake in shares of NVIDIA by 798.8% in the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after buying an additional 34,678,944 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of NVIDIA by 858.4% during the second quarter. Principal Financial Group Inc. now owns 34,341,377 shares of the computer hardware maker’s stock worth $4,242,534,000 after buying an additional 30,758,341 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.2 %

Shares of NVDA stock opened at $116.26 on Tuesday. The business’s fifty day moving average price is $115.75 and its 200 day moving average price is $107.41. The firm has a market capitalization of $2.86 trillion, a PE ratio of 67.99, a P/E/G ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 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 business’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Tigress Financial lifted their price target on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. HSBC boosted their target price 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. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Robert W. Baird raised their target price on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction 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 approximately $698,025,289.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the company’s 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 completion of the sale, 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 have sold a total of 4,472,303 shares of company stock worth $536,731,507 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.