Dravo Bay LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Dravo Bay LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 441.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,014 shares of the computer hardware maker’s stock after buying an additional 1,642 shares during the quarter. Dravo Bay LLC’s holdings in NVIDIA were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Alpha Financial Partners LLC boosted its stake in shares of NVIDIA by 1,066.6% in the second quarter. Alpha Financial Partners LLC now owns 7,198 shares of the computer hardware maker’s stock valued at $889,000 after buying an additional 6,581 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of NVIDIA by 175.2% in the second quarter. Edgestream Partners L.P. now owns 81,499 shares of the computer hardware maker’s stock valued at $10,068,000 after buying an additional 51,888 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of NVIDIA by 838.1% in the second quarter. Primecap Management Co. CA now owns 21,669,980 shares of the computer hardware maker’s stock valued at $2,677,109,000 after buying an additional 19,360,045 shares in the last quarter. GDS Wealth Management boosted its stake in shares of NVIDIA by 1,108.6% in the second quarter. GDS Wealth Management now owns 10,575 shares of the computer hardware maker’s stock valued at $1,306,000 after buying an additional 9,700 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its stake in shares of NVIDIA by 1,111.9% in the second quarter. Pekin Hardy Strauss Inc. now owns 6,908 shares of the computer hardware maker’s stock valued at $853,000 after buying an additional 6,338 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. KeyCorp lifted their price objective on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Robert W. Baird lifted their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was 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 approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, 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. Over the last 90 days, insiders sold 2,876,270 shares of company stock valued at $333,061,527. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $138.00 on Monday. The stock has a 50-day moving average price of $121.88 and a two-hundred day moving average price of $112.51. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.