Middleton & Co. Inc. MA Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Middleton & Co. Inc. MA lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 930.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,110 shares of the computer hardware maker’s stock after acquiring an additional 13,644 shares during the quarter. Middleton & Co. Inc. MA’s holdings in NVIDIA were worth $1,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp bought a new stake in NVIDIA in the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners increased its holdings in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after buying an additional 37 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ NVDA opened at $143.59 on Wednesday. The business’s fifty day moving average is $123.13 and its two-hundred day moving average is $113.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42. The stock has a market capitalization of $3.53 trillion, a P/E ratio of 83.97, a P/E/G ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the business earned $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the transaction, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,756,270 shares of company stock valued at $318,992,727 in the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVDA shares. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. KeyCorp lifted their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Westpark Capital lifted 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. Finally, Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.