NVIDIA Co. (NASDAQ:NVDA) is Optas LLC’s 9th Largest Position

Optas LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 930.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 115,412 shares of the computer hardware maker’s stock after purchasing an additional 104,209 shares during the period. NVIDIA comprises approximately 3.7% of Optas LLC’s portfolio, making the stock its 9th biggest holding. Optas LLC’s holdings in NVIDIA were worth $14,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter worth $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter valued at $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA during the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners grew its position in shares of NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.85, for a total value of $12,085,000.00. Following the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,845,633 shares of company stock worth $465,330,122. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DA Davidson reissued a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird boosted their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Barclays dropped their target price on NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Finally, Needham & Company LLC increased their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating 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 one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

NVDA opened at $116.78 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 68.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The company’s 50 day simple moving average is $117.19 and its 200-day simple moving average is $106.39. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates 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. Sell-side analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

About NVIDIA

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.