Monetta Financial Services Inc. Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Monetta Financial Services Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,000 shares of the computer hardware maker’s stock after acquiring an additional 49,500 shares during the period. NVIDIA makes up approximately 5.9% of Monetta Financial Services Inc.’s investment portfolio, making the stock its 6th largest position. Monetta Financial Services Inc.’s holdings in NVIDIA were worth $6,795,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. Baillie Gifford & Co. grew its position in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares in the last quarter. Finally, American Century Companies Inc. grew its position in NVIDIA by 882.4% during the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after buying an additional 66,151,750 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly 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 SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,876,270 shares of company stock worth $333,061,527. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. Westpark Capital increased their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Bank of America increased their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, KeyCorp upped their target price on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Five equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $138.00 on Monday. 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 business 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 1-year low of $39.23 and a 1-year high of $140.89. The company 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 for the quarter, topping 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 period last year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently declared 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 of this dividend 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 currently 1.88%.

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.