EMC Capital Management Buys 20,714 Shares of NVIDIA Co. (NASDAQ:NVDA)

EMC Capital Management increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 900.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,014 shares of the computer hardware maker’s stock after purchasing an additional 20,714 shares during the quarter. NVIDIA makes up 1.6% of EMC Capital Management’s investment portfolio, making the stock its 6th largest holding. EMC Capital Management’s holdings in NVIDIA were worth $2,830,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Bank of New York Mellon Corp grew its holdings 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 valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. increased 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 period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of NVIDIA by 829.0% during the second 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. Finally, Swedbank AB boosted its position in shares of NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after acquiring an additional 34,678,944 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $124.88, for a total transaction of $14,985,600.00. Following the completion of the transaction, the chief executive officer now directly owns 80,334,995 shares in the company, valued at approximately $10,032,234,175.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders sold a total of 4,472,303 shares of company stock worth $536,731,507 in the last quarter. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 8th. DA Davidson reiterated a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Wedbush restated an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Performance

NVDA stock opened at $116.26 on Tuesday. The company has a 50 day moving average price of $115.75 and a 200 day moving average price of $107.41. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. 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 $2.86 trillion, a PE ratio of 67.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

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, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. Analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend 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 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.