Stelac Advisory Services LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Stelac Advisory Services LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,440 shares of the computer hardware maker’s stock after purchasing an additional 110,196 shares during the quarter. NVIDIA comprises about 6.3% of Stelac Advisory Services LLC’s investment portfolio, making the stock its 4th largest holding. Stelac Advisory Services LLC’s holdings in NVIDIA were worth $15,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted 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 acquiring an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. lifted its stake in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 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 valued at $7,913,435,000 after buying an additional 57,160,191 shares in the last quarter. Swedbank AB lifted its stake in NVIDIA by 798.8% during 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 buying an additional 34,678,944 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in NVIDIA by 858.4% during the second quarter. Principal Financial Group Inc. now owns 34,341,377 shares of the computer hardware maker’s stock valued at $4,242,534,000 after buying an additional 30,758,341 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total value of $14,985,600.00. Following the completion of the transaction, the chief executive officer now directly owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 385,000 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.74, for a total transaction of $50,334,900.00. Following the transaction, the director now owns 9,141,240 shares of the company’s stock, valued at $1,195,125,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $14,985,600.00. Following the sale, the chief executive officer now directly owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,472,303 shares of company stock worth $536,731,507 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.2 %

NASDAQ NVDA opened at $116.26 on Tuesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 67.99, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The stock’s 50 day moving average is $115.75 and its two-hundred day moving average is $107.41.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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 firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NVDA shares. Evercore ISI upped their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their price target on shares of NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.10.

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.