Rothschild Investment LLC Makes New $59.01 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Rothschild Investment LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 477,616 shares of the computer hardware maker’s stock, valued at approximately $59,005,000. NVIDIA makes up 4.1% of Rothschild Investment LLC’s investment portfolio, making the stock its 2nd largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of NVIDIA by 854.1% in the second 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 in 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 worth $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position 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 acquiring an additional 57,160,191 shares during the period. Swedbank AB increased its position in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after acquiring an additional 34,678,944 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in NVIDIA by 858.4% in 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 during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVDA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Westpark Capital raised their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. KeyCorp lifted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Mizuho lifted their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating 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. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

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 transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at $512,509,435. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of NVIDIA 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 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. In the last three months, insiders sold 4,397,403 shares of company stock valued at $526,762,784. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $121.40 on Friday. The company has a 50-day moving average of $115.81 and a 200-day moving average of $107.87. The company has a market capitalization of $2.98 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 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 company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

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

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.