NVIDIA Co. (NASDAQ:NVDA) is Norden Group LLC’s 2nd Largest Position

Norden Group LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,055.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,051 shares of the computer hardware maker’s stock after purchasing an additional 113,313 shares during the period. NVIDIA makes up 3.1% of Norden Group LLC’s holdings, making the stock its 2nd biggest position. Norden Group LLC’s holdings in NVIDIA were worth $15,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the 2nd 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 last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,577,403 shares of company stock valued at $420,166,534 in the last 90 days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Down 0.2 %

NVDA opened at $132.65 on Thursday. The company has a market capitalization of $3.26 trillion, a PE ratio of 77.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The business has a 50-day moving average of $117.17 and a 200-day moving average of $110.01. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. 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 earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company 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%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVDA shares. UBS Group reissued a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday. Mizuho raised their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Evercore ISI upped their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Benchmark reiterated a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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.