NVIDIA Co. (NASDAQ:NVDA) is Flynn Zito Capital Management LLC’s 8th Largest Position

Flynn Zito Capital Management LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,010.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,272 shares of the computer hardware maker’s stock after acquiring an additional 61,216 shares during the period. NVIDIA accounts for approximately 4.2% of Flynn Zito Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Flynn Zito Capital Management LLC’s holdings in NVIDIA were worth $8,311,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Candriam S.C.A. grew its stake in shares of NVIDIA by 901.7% in the 2nd quarter. Candriam S.C.A. now owns 6,869,370 shares of the computer hardware maker’s stock valued at $848,602,000 after buying an additional 6,183,591 shares during the period. North Star Asset Management Inc. grew its stake in shares of NVIDIA by 852.0% in the 2nd quarter. North Star Asset Management Inc. now owns 230,966 shares of the computer hardware maker’s stock valued at $28,534,000 after buying an additional 206,705 shares during the period. Atlas Financial Advisors Inc. grew its stake in shares of NVIDIA by 823.0% in the 2nd quarter. Atlas Financial Advisors Inc. now owns 2,889 shares of the computer hardware maker’s stock valued at $357,000 after buying an additional 2,576 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of NVIDIA by 951.0% in the 2nd quarter. New York Life Investment Management LLC now owns 3,550,882 shares of the computer hardware maker’s stock worth $438,676,000 after acquiring an additional 3,213,013 shares during the last quarter. Finally, Northwest Wealth Management LLC lifted its holdings in shares of NVIDIA by 1,039.1% in the 2nd quarter. Northwest Wealth Management LLC now owns 32,385 shares of the computer hardware maker’s stock worth $4,001,000 after acquiring an additional 29,542 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,697,403 shares of company stock worth $436,258,534 over the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $127.72 on Tuesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a 50-day moving average of $116.26 and a two-hundred day moving average of $109.49. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 74.69, a PEG ratio of 1.05 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

NVDA has been the topic of several recent analyst reports. StockNews.com lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Argus upped their price objective on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.