Solstein Capital LLC Has $1.44 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Solstein Capital LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,640 shares of the computer hardware maker’s stock after buying an additional 10,476 shares during the quarter. NVIDIA accounts for about 0.9% of Solstein Capital LLC’s investment portfolio, making the stock its 28th largest position. Solstein Capital LLC’s holdings in NVIDIA were worth $1,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Baader Bank Aktiengesellschaft lifted its position in shares of NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock worth $21,896,000 after acquiring an additional 11,445 shares during the period. OMNI 360 Wealth Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $240,000. Bedel Financial Consulting Inc. lifted its position in shares of NVIDIA by 10.7% in the 4th quarter. Bedel Financial Consulting Inc. now owns 2,262 shares of the computer hardware maker’s stock worth $1,120,000 after acquiring an additional 219 shares during the period. Integrity Wealth Solutions LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $1,661,000. Finally, McAdam LLC lifted its position in shares of NVIDIA by 945.0% in the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after acquiring an additional 76,517 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $113.37 on Thursday. The company has a 50 day moving average price of $116.45 and a 200-day moving average price of $106.68. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The stock has a market capitalization of $2.79 trillion, a PE ratio of 66.30, a PEG ratio of 1.06 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 earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. DZ Bank downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price for the company. in a research report on Friday, May 24th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Mizuho raised their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Susquehanna raised their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the sale, the insider now owns 503,878 shares in the company, valued at $64,582,043.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,725,633 shares of company stock worth $449,025,722. 4.23% of the stock is owned by corporate insiders.

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.