Waddell & Associates LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Waddell & Associates LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,395.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,453 shares of the computer hardware maker’s stock after buying an additional 21,885 shares during the quarter. NVIDIA makes up approximately 0.4% of Waddell & Associates LLC’s holdings, making the stock its 24th largest holding. Waddell & Associates LLC’s holdings in NVIDIA were worth $2,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Truepoint Inc. lifted its stake in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Consolidated Planning Corp grew its position in shares of NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after acquiring an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC increased its stake in NVIDIA by 1,452.1% during the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares during the last quarter. Lafayette Investments Inc. grew its position in shares of NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after buying an additional 5,140 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd raised its position in shares of NVIDIA by 51.4% during the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on NVDA shares. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” 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 stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup boosted their price objective on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. HSBC increased their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Craig Hallum raised their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $119.17, for a total value of $14,300,400.00. Following the transaction, the chief executive officer now owns 78,654,995 shares of the company’s stock, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,201,270 shares of company stock worth $371,285,277 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 1.6 %

Shares of NVDA opened at $134.81 on Friday. The stock has a 50 day simple moving average of $117.48 and a 200-day simple moving average of $110.17. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market cap of $3.32 trillion, a PE ratio of 78.84, a PEG 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 issued its quarterly earnings data 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 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 analysts’ expectations of $28.74 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

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

NVIDIA Company 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.