Cadinha & Co. LLC Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cadinha & Co. LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 500.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,158 shares of the computer hardware maker’s stock after buying an additional 108,470 shares during the period. NVIDIA accounts for about 3.0% of Cadinha & Co. LLC’s portfolio, making the stock its 15th largest holding. Cadinha & Co. LLC’s holdings in NVIDIA were worth $16,080,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Mirova US LLC grew its position in shares of NVIDIA by 903.4% in the second quarter. Mirova US LLC now owns 5,777,147 shares of the computer hardware maker’s stock valued at $713,709,000 after purchasing an additional 5,201,415 shares in the last quarter. Sabal Trust CO grew its position in shares of NVIDIA by 1,090.9% in the second quarter. Sabal Trust CO now owns 25,819 shares of the computer hardware maker’s stock valued at $3,190,000 after purchasing an additional 23,651 shares in the last quarter. Abacus Planning Group Inc. lifted its holdings in NVIDIA by 1,194.4% in the second quarter. Abacus Planning Group Inc. now owns 28,231 shares of the computer hardware maker’s stock valued at $3,488,000 after acquiring an additional 26,050 shares during the last quarter. TrinityPoint Wealth LLC lifted its holdings in NVIDIA by 829.2% in the second quarter. TrinityPoint Wealth LLC now owns 135,741 shares of the computer hardware maker’s stock valued at $16,769,000 after acquiring an additional 121,133 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in NVIDIA by 805.4% in the second quarter. Intact Investment Management Inc. now owns 67,000 shares of the computer hardware maker’s stock valued at $8,277,000 after acquiring an additional 59,600 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $121.40 on Friday. The firm has a market capitalization of $2.98 trillion, a PE ratio of 70.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The business’s fifty day moving average price is $115.81 and its 200 day moving average price is $107.87. 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 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Morgan Stanley upped their price objective on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Wells Fargo & Company upped 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. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.10.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the transaction, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at $9,909,465,178.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Ajay K. Puri sold 100,110 shares of the 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 sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the sale, the chief executive officer now owns 79,734,995 shares of the company’s stock, valued at approximately $9,909,465,178.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,397,403 shares of company stock valued at $526,762,784. 4.23% of the stock is currently owned by insiders.

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.