NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Savant Capital LLC

Savant Capital LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 882.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 477,205 shares of the computer hardware maker’s stock after acquiring an additional 428,610 shares during the quarter. NVIDIA makes up approximately 0.6% of Savant Capital LLC’s investment portfolio, making the stock its 28th largest position. Savant Capital LLC’s holdings in NVIDIA were worth $58,954,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Sustainable Insight Capital Management LLC raised its stake in shares of NVIDIA by 874.4% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 37,270 shares of the computer hardware maker’s stock worth $4,604,000 after buying an additional 33,445 shares during the period. AF Advisors Inc. raised its stake in NVIDIA by 950.1% in the 2nd quarter. AF Advisors Inc. now owns 5,240 shares of the computer hardware maker’s stock valued at $647,000 after purchasing an additional 4,741 shares during the last quarter. Narwhal Capital Management raised its stake in NVIDIA by 878.2% in the 2nd quarter. Narwhal Capital Management now owns 519,303 shares of the computer hardware maker’s stock valued at $64,155,000 after purchasing an additional 466,218 shares during the last quarter. Opes Wealth Management LLC raised its stake in NVIDIA by 875.3% in the 2nd quarter. Opes Wealth Management LLC now owns 29,865 shares of the computer hardware maker’s stock valued at $3,690,000 after purchasing an additional 26,803 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp acquired a new position in NVIDIA in the 2nd quarter valued at $237,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 2.2 %

Shares of NVDA stock opened at $127.72 on Tuesday. The business’s 50 day moving average is $116.26 and its two-hundred day moving average is $109.49. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a market capitalization of $3.14 trillion, a P/E ratio of 74.69, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. 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 earnings per share for the quarter, beating 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on NVDA shares. Melius Research increased their price objective on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Jefferies Financial Group upped their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a report on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was 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 $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,697,403 shares of company stock worth $436,258,534 over the last three months. 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.