NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Increased by Encompass More Asset Management

Encompass More Asset Management increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,613.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,274 shares of the computer hardware maker’s stock after purchasing an additional 10,616 shares during the quarter. NVIDIA accounts for 1.0% of Encompass More Asset Management’s holdings, making the stock its 25th biggest position. Encompass More Asset Management’s holdings in NVIDIA were worth $1,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the 1st quarter valued at approximately $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at approximately $30,000. Norwood Financial Corp purchased a new stake in shares of NVIDIA in the 1st quarter valued at approximately $45,000. Finally, Coston McIsaac & Partners lifted 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 valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on NVDA shares. UBS Group upped their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Sanford C. Bernstein upped their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group upped their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Citigroup upped their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $116.00 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The firm has a fifty day moving average price of $115.99 and a two-hundred day moving average price of $107.11. The company has a market cap of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.64 EPS for the current 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 issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold a total of 3,692,303 shares of company stock valued at $444,047,307 in the last ninety days. Company insiders own 4.23% of the company’s stock.

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.