Itau Unibanco Holding S.A. Purchases 117,166 Shares of NVIDIA Co. (NASDAQ:NVDA)

Itau Unibanco Holding S.A. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 517.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 139,797 shares of the computer hardware maker’s stock after purchasing an additional 117,166 shares during the period. NVIDIA comprises 0.7% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 29th biggest position. Itau Unibanco Holding S.A.’s holdings in NVIDIA were worth $17,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Destiny Capital Corp CO grew its stake in NVIDIA by 900.0% in the 2nd quarter. Destiny Capital Corp CO now owns 6,530 shares of the computer hardware maker’s stock valued at $807,000 after purchasing an additional 5,877 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of NVIDIA by 983.1% during the 2nd quarter. Fidelis Capital Partners LLC now owns 251,349 shares of the computer hardware maker’s stock worth $31,052,000 after purchasing an additional 228,142 shares during the period. Goepper Burkhardt LLC boosted its holdings in shares of NVIDIA by 925.7% in the 2nd quarter. Goepper Burkhardt LLC now owns 10,903 shares of the computer hardware maker’s stock worth $1,347,000 after buying an additional 9,840 shares during the last quarter. Epoch Investment Partners Inc. grew its position in NVIDIA by 4,893.0% during the second quarter. Epoch Investment Partners Inc. now owns 363,639 shares of the computer hardware maker’s stock valued at $44,924,000 after buying an additional 356,356 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in NVIDIA by 592.8% during the second quarter. 1832 Asset Management L.P. now owns 6,631,396 shares of the computer hardware maker’s stock worth $819,243,000 after buying an additional 5,674,201 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. 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, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,636,270 shares of company stock valued at $305,367,927. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.8 %

Shares of NVDA stock opened at $141.54 on Friday. The business has a 50-day moving average of $123.91 and a 200 day moving average of $113.68. 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 Co. has a 1-year low of $39.23 and a 1-year high of $144.42. The stock has a market capitalization of $3.48 trillion, a PE ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Bank of America boosted their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Finally, TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $143.07.

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.