NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 969.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,477 shares of the computer hardware maker’s stock after purchasing an additional 283,248 shares during the period. NVIDIA makes up about 3.8% of United Asset Strategies Inc.’s holdings, making the stock its 3rd biggest position. United Asset Strategies Inc.’s holdings in NVIDIA were worth $38,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Bank of New York Mellon Corp lifted its position in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. grew its holdings in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of NVIDIA by 829.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Van ECK Associates Corp increased its position in NVIDIA by 741.8% during the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after acquiring an additional 35,255,679 shares during the period. Finally, Swedbank AB increased its stake in NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. Needham & Company LLC raised their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Mizuho upped their target price on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.10.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $127.14, for a total transaction of $15,256,800.00. Following the transaction, the chief executive officer now directly owns 79,614,995 shares of the company’s stock, valued at approximately $10,122,250,464.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total value of $50,334,900.00. Following the completion of the transaction, the director now directly owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $127.14, for a total transaction of $15,256,800.00. Following the completion of the transaction, the chief executive officer now directly owns 79,614,995 shares in the company, valued at $10,122,250,464.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,197,403 shares of company stock valued at $501,955,984. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 3.7 %

Shares of NASDAQ NVDA opened at $117.00 on Wednesday. The stock has a 50-day moving average price of $115.72 and a two-hundred day moving average price of $108.79. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.88 trillion, a price-to-earnings ratio of 68.42, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Company 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.