E Fund Management Co. Ltd. Acquires 488,492 Shares of NVIDIA Co. (NASDAQ:NVDA)

E Fund Management Co. Ltd. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,114.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,340 shares of the computer hardware maker’s stock after acquiring an additional 488,492 shares during the period. NVIDIA makes up 3.6% of E Fund Management Co. Ltd.’s portfolio, making the stock its 4th biggest position. E Fund Management Co. Ltd.’s holdings in NVIDIA were worth $65,765,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NVDA. Truepoint Inc. grew its position in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Consolidated Planning Corp increased its position in shares of NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares during the last quarter. International Private Wealth Advisors LLC increased its holdings in NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after buying an additional 7,028 shares during the last quarter. Lafayette Investments Inc. raised its position in shares of NVIDIA by 901.8% during the 2nd quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after acquiring an additional 5,140 shares in the last quarter. Finally, AMJ Financial Wealth Management raised its holdings in shares of NVIDIA by 898.7% during the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock worth $7,326,000 after purchasing an additional 53,362 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $143.71 on Tuesday. The firm has a 50-day moving average of $122.58 and a two-hundred day moving average of $112.92. The firm has a market capitalization of $3.53 trillion, a PE ratio of 67.41, a P/E/G ratio of 1.25 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a one year low of $39.23 and a one year high of $143.71.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm 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. The company’s revenue was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm 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 of this dividend 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 1.88%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $113.54, for a total value of $13,624,800.00. Following the completion of the sale, the chief executive officer now owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,876,270 shares of company stock valued at $333,061,527. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVDA shares. HSBC upped their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.