Simplify Asset Management Inc. Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Simplify Asset Management Inc. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 843.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,734 shares of the computer hardware maker’s stock after acquiring an additional 8,702 shares during the period. Simplify Asset Management Inc.’s holdings in NVIDIA were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Wealth Management LLC increased its holdings in shares of NVIDIA by 2,709.2% in the second quarter. Cedar Wealth Management LLC now owns 14,580 shares of the computer hardware maker’s stock worth $1,801,000 after purchasing an additional 14,061 shares during the period. Drexel Morgan & Co. bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $222,000. Beaton Management Co. Inc. increased its position in shares of NVIDIA by 888.5% in the second quarter. Beaton Management Co. Inc. now owns 67,310 shares of the computer hardware maker’s stock worth $8,315,000 after purchasing an additional 60,501 shares during the last quarter. Waters Parkerson & CO. LLC lifted its position in NVIDIA by 938.0% during the second quarter. Waters Parkerson & CO. LLC now owns 73,210 shares of the computer hardware maker’s stock valued at $9,044,000 after purchasing an additional 66,157 shares during the last quarter. Finally, Etfidea LLC increased its holdings in shares of NVIDIA by 1,105.7% in the 2nd quarter. Etfidea LLC now owns 6,571 shares of the computer hardware maker’s stock worth $812,000 after buying an additional 6,026 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $140.41 on Friday. The firm’s 50-day simple moving average is $123.56 and its two-hundred day simple moving average is $113.50. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42. The stock has a market cap of $3.44 trillion, a PE ratio of 65.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter 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 fiscal year.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the 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 sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s 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 directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,636,270 shares of company stock worth $305,367,927. 4.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Finally, Robert W. Baird boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.