Certuity LLC Purchases 140,792 Shares of NVIDIA Co. (NASDAQ:NVDA)

Certuity LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 723.1% during the 2nd quarter, Holdings Channel reports. The firm owned 160,262 shares of the computer hardware maker’s stock after buying an additional 140,792 shares during the period. NVIDIA makes up approximately 1.6% of Certuity LLC’s investment portfolio, making the stock its 14th biggest position. Certuity LLC’s holdings in NVIDIA were worth $19,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Bank of New York Mellon Corp lifted its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. raised its holdings in NVIDIA by 696.6% in the second 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in NVIDIA by 829.0% during the second 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 buying an additional 57,160,191 shares during the period. Rhumbline Advisers grew its position in shares of NVIDIA by 892.0% in the 2nd quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after buying an additional 42,025,613 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of NVIDIA by 741.8% in the 2nd quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after buying an additional 35,255,679 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred 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 directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the 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 directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,577,403 shares of company stock valued at $420,166,534 in the last quarter. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. KeyCorp raised their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial boosted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Finally, Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

NVDA stock opened at $132.65 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company’s fifty day moving average price is $117.17 and its 200-day moving average price is $110.01. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market capitalization of $3.26 trillion, a PE ratio of 77.57, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced 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 for 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 business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a stock buyback plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.