Investors Asset Management of Georgia Inc. GA ADV Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,090 shares of the computer hardware maker’s stock, valued at approximately $258,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. 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 valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. boosted its stake in NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew 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 purchasing an additional 57,160,191 shares during the last quarter. Finally, Swedbank AB increased its stake 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 purchasing an additional 34,678,944 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 0.2 %

NVIDIA stock opened at $116.26 on Tuesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.86 trillion, a P/E ratio of 67.99, a P/E/G ratio of 1.06 and a beta of 1.67. The company’s fifty day simple moving average is $115.75 and its 200-day simple moving average is $107.41.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Evercore ISI raised their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group raised their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, 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. Five 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction 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 owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,472,303 shares of company stock valued at $536,731,507. Insiders own 4.23% of the company’s stock.

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.