Cheviot Value Management LLC Has $1.41 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Cheviot Value Management LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 944.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,440 shares of the computer hardware maker’s stock after purchasing an additional 10,345 shares during the quarter. Cheviot Value Management LLC’s holdings in NVIDIA were worth $1,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the 1st quarter valued at approximately $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the 1st quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners lifted its stake in NVIDIA by 231.3% in 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. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $141.54 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The firm has a 50-day moving average price of $124.25 and a two-hundred day moving average price of $114.26.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid 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 dividend payout ratio (DPR) is 2.34%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were 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 owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NVDA shares. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a research note on Thursday, October 10th. DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, HSBC increased their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

About NVIDIA

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.