Lombard Odier Asset Management USA Corp Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Lombard Odier Asset Management USA Corp raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 305.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,100 shares of the computer hardware maker’s stock after acquiring an additional 6,100 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in NVIDIA were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Evergreen Capital Management LLC lifted its holdings in NVIDIA by 793.5% during the second quarter. Evergreen Capital Management LLC now owns 368,815 shares of the computer hardware maker’s stock valued at $45,563,000 after purchasing an additional 327,537 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of NVIDIA by 1,110.8% during the second quarter. Public Sector Pension Investment Board now owns 5,626,090 shares of the computer hardware maker’s stock valued at $695,047,000 after buying an additional 5,161,435 shares during the period. Beck Capital Management LLC increased its position in shares of NVIDIA by 793.5% during the second quarter. Beck Capital Management LLC now owns 246,770 shares of the computer hardware maker’s stock valued at $30,486,000 after buying an additional 219,153 shares during the period. Steel Grove Capital Advisors LLC increased its position in shares of NVIDIA by 880.8% during the second quarter. Steel Grove Capital Advisors LLC now owns 361,754 shares of the computer hardware maker’s stock valued at $44,691,000 after buying an additional 324,869 shares during the period. Finally, J. Stern & Co. LLP increased its position in shares of NVIDIA by 570.4% during the second quarter. J. Stern & Co. LLP now owns 733,290 shares of the computer hardware maker’s stock valued at $90,591,000 after buying an additional 623,916 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, August 1st. The stock was 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 owns 77,334,995 shares of the company’s stock, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Thursday, August 1st. The stock was 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 owns 77,334,995 shares of the company’s stock, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated 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 approximately $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 90 days, insiders have sold 2,636,270 shares of company stock worth $305,367,927. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.54 on Friday. The stock has a market cap of $3.48 trillion, a P/E ratio of 82.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The firm’s fifty day simple moving average is $124.25 and its 200 day simple moving average is $114.26. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. 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 announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. KeyCorp upped their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Needham & Company LLC upped their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 price objective 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 given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.