Garrison Point Advisors LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Garrison Point Advisors LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 780.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,090 shares of the computer hardware maker’s stock after purchasing an additional 61,246 shares during the quarter. NVIDIA makes up about 5.6% of Garrison Point Advisors LLC’s investment portfolio, making the stock its largest position. Garrison Point Advisors LLC’s holdings in NVIDIA were worth $8,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NVDA. AGF Management Ltd. boosted its holdings in NVIDIA by 911.0% during the 2nd quarter. AGF Management Ltd. now owns 6,215,932 shares of the computer hardware maker’s stock valued at $767,916,000 after acquiring an additional 5,601,117 shares during the period. Gordian Advisors LLC lifted its stake in shares of NVIDIA by 334.6% in the 2nd quarter. Gordian Advisors LLC now owns 2,099 shares of the computer hardware maker’s stock valued at $259,000 after purchasing an additional 1,616 shares during the period. Athena Investment Management lifted its stake in shares of NVIDIA by 875.1% in the 2nd quarter. Athena Investment Management now owns 4,661 shares of the computer hardware maker’s stock valued at $576,000 after purchasing an additional 4,183 shares during the period. GEM Asset Management LLC lifted its stake in shares of NVIDIA by 1,340.3% in the 2nd quarter. GEM Asset Management LLC now owns 5,142 shares of the computer hardware maker’s stock valued at $635,000 after purchasing an additional 4,785 shares during the period. Finally, KFA Private Wealth Group LLC increased its position in NVIDIA by 722.5% during the 2nd quarter. KFA Private Wealth Group LLC now owns 18,613 shares of the computer hardware maker’s stock valued at $2,299,000 after buying an additional 16,350 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Colette Kress sold 66,670 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,236,270 shares of company stock worth $376,316,727 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.0 %

NVDA opened at $134.80 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company’s 50 day simple moving average is $118.54 and its two-hundred day simple moving average is $110.89. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date 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 is currently 1.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective on shares of NVIDIA in a research report on Thursday. Citigroup lifted 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 lifted their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, UBS Group restated a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.