Massachusetts Financial Services Co. MA Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 808.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,689,605 shares of the computer hardware maker’s stock after purchasing an additional 73,589,208 shares during the period. NVIDIA comprises about 3.1% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 2nd largest position. Massachusetts Financial Services Co. MA’s holdings in NVIDIA were worth $10,215,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the first quarter valued at $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the first quarter valued at $45,000. Finally, Coston McIsaac & Partners grew its position in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock worth $347,729,127 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Needham & Company LLC boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, DA Davidson reissued a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 0.8 %

NASDAQ:NVDA opened at $138.00 on Friday. 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 has a market cap of $3.39 trillion, a PE ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89. The stock has a 50-day simple moving average of $121.88 and a 200 day simple moving average of $112.35.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.88%.

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.