Advisor OS LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Advisor OS LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 790.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,451 shares of the computer hardware maker’s stock after purchasing an additional 106,043 shares during the quarter. NVIDIA comprises about 1.6% of Advisor OS LLC’s investment portfolio, making the stock its 15th largest position. Advisor OS LLC’s holdings in NVIDIA were worth $14,757,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NVDA. Bank of New York Mellon Corp raised its stake in NVIDIA by 854.1% during 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. raised its stake in shares of NVIDIA by 696.6% in 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 acquiring an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of NVIDIA by 829.0% in 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 acquiring an additional 57,160,191 shares during the period. Rhumbline Advisers raised its stake in shares of NVIDIA by 892.0% in the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock valued at $5,773,914,000 after acquiring an additional 42,025,613 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of NVIDIA by 741.8% in the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock valued at $4,942,652,000 after acquiring an additional 35,255,679 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVDA shares. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. StockNews.com downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, HSBC raised their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Price Performance

NVDA stock opened at $127.72 on Tuesday. The company has a market capitalization of $3.14 trillion, a P/E ratio of 74.69, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The business has a 50 day simple moving average of $116.26 and a 200-day simple moving average of $109.49. 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 issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the sale, the chief executive officer now owns 79,254,995 shares in the company, valued at $10,628,094,829.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,697,403 shares of company stock worth $436,258,534. 4.23% of the stock is owned by corporate insiders.

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.