Hyman Charles D Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hyman Charles D boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 894.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,214 shares of the computer hardware maker’s stock after buying an additional 72,147 shares during the period. Hyman Charles D’s holdings in NVIDIA were worth $9,910,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the sale, the chief executive officer now directly owns 80,814,995 shares of the company’s stock, valued at approximately $10,980,333,370.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total transaction of $16,304,400.00. Following the completion of the sale, the chief executive officer now owns 80,814,995 shares in the company, valued at approximately $10,980,333,370.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 100,000 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the transaction, the chief financial officer now owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,845,633 shares of company stock worth $465,330,122. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.0 %

NVDA opened at $115.59 on Wednesday. The stock has a market cap of $2.84 trillion, a PE ratio of 67.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. 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 Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a fifty day moving average of $116.88 and a 200-day moving average of $106.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Barclays reduced their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Wolfe Research raised their price target on shares of NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group boosted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday. Finally, DA Davidson restated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.10.

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.