Del Sette Capital Management LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Del Sette Capital Management LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 693.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,174 shares of the computer hardware maker’s stock after purchasing an additional 31,614 shares during the period. NVIDIA accounts for 3.7% of Del Sette Capital Management LLC’s portfolio, making the stock its 11th biggest position. Del Sette Capital Management LLC’s holdings in NVIDIA were worth $4,469,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AdvisorShares Investments LLC increased its stake in shares of NVIDIA by 102.2% during the fourth quarter. AdvisorShares Investments LLC now owns 1,719 shares of the computer hardware maker’s stock valued at $851,000 after purchasing an additional 869 shares in the last quarter. NCM Capital Management LLC boosted its position in shares of NVIDIA by 13.8% in the 4th quarter. NCM Capital Management LLC now owns 14,781 shares of the computer hardware maker’s stock worth $7,320,000 after purchasing an additional 1,787 shares in the last quarter. Delaney Dennis R grew its stake in shares of NVIDIA by 0.4% in the 4th quarter. Delaney Dennis R now owns 8,825 shares of the computer hardware maker’s stock worth $4,370,000 after buying an additional 32 shares during the last quarter. Broderick Brian C increased its position in NVIDIA by 1.2% during the 4th quarter. Broderick Brian C now owns 29,099 shares of the computer hardware maker’s stock valued at $14,410,000 after buying an additional 352 shares in the last quarter. Finally, Prudential PLC raised its stake in NVIDIA by 2.5% during the fourth quarter. Prudential PLC now owns 197,312 shares of the computer hardware maker’s stock valued at $97,713,000 after buying an additional 4,725 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Morgan Stanley increased their price target on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five 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 company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the transaction, the chief executive officer now owns 79,254,995 shares in the company, valued at $10,628,094,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,077,403 shares of company stock valued at $486,699,184. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 1.7 %

NASDAQ:NVDA opened at $124.92 on Friday. The company’s 50 day moving average is $116.26 and its two-hundred day moving average is $109.35. The company has a market cap of $3.07 trillion, a PE ratio of 73.05, a P/E/G ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for 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%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.