Mesirow Financial Investment Management Inc. Buys 94,082 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mesirow Financial Investment Management Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 909.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 104,424 shares of the computer hardware maker’s stock after acquiring an additional 94,082 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in NVIDIA were worth $12,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Menard Financial Group LLC raised its stake in NVIDIA by 942.4% during the second quarter. Menard Financial Group LLC now owns 94,606 shares of the computer hardware maker’s stock valued at $11,688,000 after purchasing an additional 85,530 shares in the last quarter. One Capital Management LLC raised its stake in NVIDIA by 905.1% during the second quarter. One Capital Management LLC now owns 423,787 shares of the computer hardware maker’s stock valued at $52,355,000 after purchasing an additional 381,623 shares in the last quarter. American Planning Services Inc. raised its stake in NVIDIA by 1,792.0% during the second quarter. American Planning Services Inc. now owns 32,485 shares of the computer hardware maker’s stock valued at $4,013,000 after purchasing an additional 30,768 shares in the last quarter. Perissos Private Wealth Management LLC raised its stake in NVIDIA by 791.5% during the second quarter. Perissos Private Wealth Management LLC now owns 26,790 shares of the computer hardware maker’s stock valued at $3,310,000 after purchasing an additional 23,785 shares in the last quarter. Finally, Sierra Summit Advisors LLC raised its stake in NVIDIA by 762.6% during the second quarter. Sierra Summit Advisors LLC now owns 188,541 shares of the computer hardware maker’s stock valued at $23,292,000 after purchasing an additional 166,683 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were 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 directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock valued at $347,729,127 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NVDA shares. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. Robert W. Baird increased their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Raymond James increased their target price on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 0.8 %

NASDAQ:NVDA opened at $138.00 on Friday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The stock has a market capitalization of $3.39 trillion, a P/E ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company’s 50-day simple moving average is $121.88 and its 200-day simple moving average is $112.35.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during 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%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently announced 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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.