Riverpark Capital Management LLC Has $4.84 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Riverpark Capital Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 920.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,150 shares of the computer hardware maker’s stock after purchasing an additional 35,313 shares during the quarter. NVIDIA comprises about 6.4% of Riverpark Capital Management LLC’s holdings, making the stock its biggest holding. Riverpark Capital Management LLC’s holdings in NVIDIA were worth $4,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baader Bank Aktiengesellschaft grew its position in NVIDIA by 34.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $240,000. Bedel Financial Consulting Inc. boosted its holdings in shares of NVIDIA by 10.7% during the 4th quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock valued at $1,120,000 after acquiring an additional 219 shares during the last quarter. Integrity Wealth Solutions LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $1,661,000. Finally, McAdam LLC boosted its holdings in shares of NVIDIA by 945.0% during the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock valued at $10,453,000 after acquiring an additional 76,517 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,655,836 shares of the company’s stock, valued at $8,460,592,139.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,725,633 shares of company stock worth $449,025,722. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Melius Research increased their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Susquehanna raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Evercore ISI raised their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Needham & Company LLC raised their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Trading Down 1.9 %

NVDA stock opened at $113.37 on Thursday. 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 stock has a market capitalization of $2.79 trillion, a price-to-earnings ratio of 66.30, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The firm’s fifty day simple moving average is $116.45 and its two-hundred day simple moving average is $106.68.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio 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.