NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Wrapmanager Inc.

Wrapmanager Inc. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 985.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,530 shares of the computer hardware maker’s stock after acquiring an additional 66,754 shares during the quarter. NVIDIA accounts for 2.5% of Wrapmanager Inc.’s portfolio, making the stock its 8th biggest holding. Wrapmanager Inc.’s holdings in NVIDIA were worth $9,084,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 buying an additional 163,482,580 shares during the period. Baillie Gifford & Co. raised its stake in shares of NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the period. American Century Companies Inc. lifted its position in shares of NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after buying an additional 66,151,750 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of NVIDIA by 829.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $136.93 on Friday. 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 capitalization of $3.37 trillion, a price-to-earnings ratio of 80.08, a PEG ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.89. The firm’s 50-day moving average is $121.22 and its 200 day moving average is $111.86.

NVIDIA (NASDAQ:NVDA) last released 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 return on equity of 113.50% and a net margin of 55.04%. 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 prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Morgan Stanley restated an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a research report on Thursday, October 10th. Finally, Bank of America reissued a “buy” rating and set a $165.00 target price on shares of NVIDIA in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $142.46.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00. Following the transaction, the chief executive officer now owns 78,294,995 shares of the company’s stock, valued at $9,569,997,238.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $122.23, for a total value of $14,667,600.00. Following the sale, the chief executive officer now directly owns 78,294,995 shares of the company’s stock, valued at approximately $9,569,997,238.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,996,270 shares of company stock valued at $347,729,127. 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.