Breakwater Investment Management Has $624,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Breakwater Investment Management lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 894.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,050 shares of the computer hardware maker’s stock after purchasing an additional 4,542 shares during the period. Breakwater Investment Management’s holdings in NVIDIA were worth $624,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the 1st quarter valued at $30,000. Norwood Financial Corp acquired a new stake in shares of NVIDIA during the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners boosted its holdings in shares of NVIDIA by 231.3% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the business’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 owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,996,270 shares of company stock valued at $347,729,127. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVDA shares. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. UBS Group reaffirmed a “buy” rating and set a $150.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Finally, Jefferies Financial Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. 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. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.46.

NVIDIA Stock Performance

Shares of NVDA opened at $136.93 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 stock has a 50 day moving average price of $121.22 and a two-hundred day moving average price of $111.86. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during 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 company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed 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 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 is currently 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.