NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Lakeside Advisors INC.

Lakeside Advisors INC. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,800 shares of the computer hardware maker’s stock after acquiring an additional 18,720 shares during the period. NVIDIA makes up about 1.7% of Lakeside Advisors INC.’s investment portfolio, making the stock its 14th biggest position. Lakeside Advisors INC.’s holdings in NVIDIA were worth $2,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Aveo Capital Partners LLC lifted its stake in NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in NVIDIA by 60.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after buying an additional 5,496 shares in the last quarter. Financial Advisors Network Inc. lifted its stake in NVIDIA by 18.6% in the 4th quarter. Financial Advisors Network Inc. now owns 2,731 shares of the computer hardware maker’s stock valued at $1,352,000 after buying an additional 428 shares in the last quarter. Union Savings Bank lifted its stake in NVIDIA by 3.4% in the 4th quarter. Union Savings Bank now owns 890 shares of the computer hardware maker’s stock valued at $441,000 after buying an additional 29 shares in the last quarter. Finally, Tidemark LLC purchased a new stake in NVIDIA in the 4th quarter valued at approximately $470,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 4.0 %

Shares of NVIDIA stock opened at $120.87 on Wednesday. The business has a 50-day moving average of $115.64 and a 200-day moving average of $107.64. 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 company has a market capitalization of $2.97 trillion, a PE ratio of 70.68, a P/E/G 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.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given 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 payout ratio is 2.34%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the transaction, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at $10,015,078,174.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $125.04, for a total transaction of $15,004,800.00. Following the transaction, the chief executive officer now owns 80,094,995 shares of the company’s stock, valued at $10,015,078,174.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 385,000 shares of the stock in a transaction dated 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 directly owns 9,141,240 shares in the company, valued at approximately $1,195,125,717.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,352,303 shares of company stock valued at $521,745,907. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVDA. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Melius Research increased their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Wells Fargo & Company increased their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Benchmark reissued a “buy” rating and set a $170.00 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

About NVIDIA

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.