Triasima Portfolio Management inc. Acquires 73,097 Shares of NVIDIA Co. (NASDAQ:NVDA)

Triasima Portfolio Management inc. raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 845.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,742 shares of the computer hardware maker’s stock after purchasing an additional 73,097 shares during the quarter. NVIDIA accounts for about 0.9% of Triasima Portfolio Management inc.’s portfolio, making the stock its 28th largest position. Triasima Portfolio Management inc.’s holdings in NVIDIA were worth $10,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter worth about $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA during the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners grew its position in NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVDA shares. KeyCorp lifted their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Tigress Financial upped their target price on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Five investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $134.81 on Friday. The stock has a market cap of $3.32 trillion, a price-to-earnings ratio of 78.84, a PEG ratio of 1.05 and a beta of 1.67. The company has a 50 day simple moving average of $117.48 and a two-hundred day simple moving average of $110.17. NVIDIA Co. has a 12 month low of $39.23 and a 12 month 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 quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 announced that its Board of Directors has authorized 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’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 completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the completion of the sale, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,201,270 shares of company stock worth $371,285,277. Insiders own 4.23% of the company’s stock.

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.