Guidance Point Advisors LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Guidance Point Advisors LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 430.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,887 shares of the computer hardware maker’s stock after acquiring an additional 2,343 shares during the quarter. Guidance Point Advisors LLC’s holdings in NVIDIA were worth $357,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. lifted its position in NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after buying an additional 57,160,191 shares during the last quarter. Swedbank AB lifted its position in NVIDIA by 798.8% in the 2nd quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after buying an additional 34,678,944 shares during the last quarter. Finally, Norges Bank purchased a new position in NVIDIA in the 4th quarter worth approximately $14,606,369,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.6 %

Shares of NASDAQ:NVDA opened at $116.00 on Friday. The stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 67.84, 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. The stock’s 50-day simple moving average is $115.99 and its two-hundred day simple moving average is $107.11. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 the consensus estimate of $28.74 billion. During the same quarter last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Jefferies Financial Group boosted their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. The Goldman Sachs Group reissued a “buy” rating and set a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Tigress Financial boosted their target price on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Five investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.10.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 100,000 shares of NVIDIA 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 sale, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Colette Kress sold 100,000 shares of NVIDIA 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 completion of the transaction, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,692,303 shares of company stock valued at $444,047,307. 4.23% of the stock is owned by company 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.