Summerhill Capital Management lnc. Has $5.50 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Summerhill Capital Management lnc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 627.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,556 shares of the computer hardware maker’s stock after purchasing an additional 38,433 shares during the quarter. NVIDIA accounts for about 3.9% of Summerhill Capital Management lnc.’s portfolio, making the stock its 13th largest holding. Summerhill Capital Management lnc.’s holdings in NVIDIA were worth $5,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its position in shares of NVIDIA by 0.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 124,562 shares of the computer hardware maker’s stock valued at $112,550,000 after buying an additional 919 shares in the last quarter. Wedmont Private Capital increased its position in NVIDIA by 3.1% during the 1st quarter. Wedmont Private Capital now owns 31,727 shares of the computer hardware maker’s stock worth $27,080,000 after purchasing an additional 943 shares in the last quarter. Bank of New Hampshire increased its position in NVIDIA by 5.7% during the 1st quarter. Bank of New Hampshire now owns 4,529 shares of the computer hardware maker’s stock worth $4,092,000 after purchasing an additional 244 shares in the last quarter. KMG Fiduciary Partners LLC increased its position in NVIDIA by 11.9% during the 1st quarter. KMG Fiduciary Partners LLC now owns 41,399 shares of the computer hardware maker’s stock worth $37,406,000 after purchasing an additional 4,393 shares in the last quarter. Finally, Legacy Financial Strategies LLC increased its position in NVIDIA by 8.2% during the 1st quarter. Legacy Financial Strategies LLC now owns 3,374 shares of the computer hardware maker’s stock worth $3,049,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,294,995 shares in the company, valued at $9,569,997,238.85. 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 at this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $122.23, for a total transaction of $14,667,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,294,995 shares in the company, valued at $9,569,997,238.85. 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 at this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction 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 owns 8,100,117 shares of the company’s stock, valued at $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 have sold 2,996,270 shares of company stock valued at $347,729,127 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVDA. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Raymond James upped their price objective 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 research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 0.8 %

Shares of NVDA stock opened at $138.00 on Friday. The company has a 50 day moving average of $121.88 and a 200-day moving average of $112.35. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89. The firm has a market cap of $3.39 trillion, a P/E ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) 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 company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

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.