Texas Capital Bank Wealth Management Services Inc Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Texas Capital Bank Wealth Management Services Inc boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 930.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 534,987 shares of the computer hardware maker’s stock after purchasing an additional 483,080 shares during the period. NVIDIA comprises 6.9% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 2nd biggest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in NVIDIA were worth $66,092,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NVDA. Texas Capital Bancshares Inc TX boosted its holdings in shares of NVIDIA by 900.0% in the second quarter. Texas Capital Bancshares Inc TX now owns 513,940 shares of the computer hardware maker’s stock worth $63,492,000 after buying an additional 462,546 shares during the last quarter. Goodman Advisory Group LLC boosted its stake in shares of NVIDIA by 1,518.6% during the 2nd quarter. Goodman Advisory Group LLC now owns 100,498 shares of the computer hardware maker’s stock worth $12,416,000 after acquiring an additional 94,289 shares during the last quarter. Cim Investment Management Inc. grew its position in shares of NVIDIA by 868.8% during the 2nd quarter. Cim Investment Management Inc. now owns 116,053 shares of the computer hardware maker’s stock valued at $14,337,000 after acquiring an additional 104,074 shares during the period. Sepio Capital LP increased its stake in shares of NVIDIA by 624.8% in the 2nd quarter. Sepio Capital LP now owns 163,145 shares of the computer hardware maker’s stock worth $20,155,000 after purchasing an additional 140,636 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its stake in shares of NVIDIA by 906.5% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 6,995 shares of the computer hardware maker’s stock worth $864,000 after purchasing an additional 6,300 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 1.4 %

Shares of NVDA opened at $139.34 on Thursday. The company’s fifty day simple moving average is $124.95 and its 200-day simple moving average is $115.35. The company has a market cap of $3.42 trillion, a P/E ratio of 65.42, a P/E/G ratio of 1.50 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 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 $144.42.

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, topping 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 company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

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.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVDA. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird upped their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. 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 company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the completion of the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the transaction, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,516,270 shares of company stock valued at $291,803,127 in the last quarter. 4.23% of the stock is owned by 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.