First Dallas Securities Inc. Purchases 188,863 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Dallas Securities Inc. boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,062.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,634 shares of the computer hardware maker’s stock after purchasing an additional 188,863 shares during the period. NVIDIA makes up 11.2% of First Dallas Securities Inc.’s portfolio, making the stock its biggest position. First Dallas Securities Inc.’s holdings in NVIDIA were worth $25,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chase Investment Counsel Corp grew its stake in shares of NVIDIA by 919.3% during the second quarter. Chase Investment Counsel Corp now owns 143,040 shares of the computer hardware maker’s stock valued at $16,738,000 after acquiring an additional 129,007 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in NVIDIA by 972.4% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 59,229 shares of the computer hardware maker’s stock valued at $7,317,000 after purchasing an additional 53,706 shares in the last quarter. Prospect Hill Management LLC grew its stake in NVIDIA by 902.0% during the 2nd quarter. Prospect Hill Management LLC now owns 25,650 shares of the computer hardware maker’s stock valued at $3,169,000 after purchasing an additional 23,090 shares in the last quarter. Journey Advisory Group LLC increased its holdings in NVIDIA by 742.8% during the 2nd quarter. Journey Advisory Group LLC now owns 76,524 shares of the computer hardware maker’s stock worth $9,454,000 after purchasing an additional 67,444 shares during the last quarter. Finally, Foster & Motley Inc. raised its position in shares of NVIDIA by 918.2% in the 2nd quarter. Foster & Motley Inc. now owns 9,225 shares of the computer hardware maker’s stock valued at $1,140,000 after purchasing an additional 8,319 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Jefferies Financial Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Citigroup boosted their price objective on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Up 1.7 %

NVDA stock opened at $124.92 on Friday. The firm’s 50-day moving average is $116.26 and its two-hundred day moving average is $109.35. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 73.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its 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. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, analysts forecast 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 was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was 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 declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,077,403 shares of company stock valued at $486,699,184 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

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.