NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 895.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 392,294 shares of the computer hardware maker’s stock after buying an additional 352,905 shares during the period. NVIDIA makes up about 2.0% of Granite Investment Partners LLC’s portfolio, making the stock its 3rd largest position. Granite Investment Partners LLC’s holdings in NVIDIA were worth $48,464,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the first quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter worth about $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the 1st quarter worth about $45,000. Finally, Coston McIsaac & Partners increased its position in shares of NVIDIA by 231.3% during 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 last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $139.56 on Thursday. The company’s fifty day simple moving average is $123.56 and its two-hundred day simple moving average is $113.50. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The firm has a market cap of $3.42 trillion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.25 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. 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 payout ratio is 1.88%.

NVIDIA announced that its board has authorized a share buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. Evercore ISI upped their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Mizuho increased their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, August 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,334,995 shares of the company’s stock, valued at $8,741,947,834.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, August 1st. The stock was sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the transaction, the chief executive officer now owns 77,334,995 shares in the company, valued at approximately $8,741,947,834.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the 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 of the company’s stock, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,756,270 shares of company stock valued at $318,992,727. 4.23% of the stock is currently owned by company insiders.

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.