Waterloo Capital L.P. Purchases 70,845 Shares of NVIDIA Co. (NASDAQ:NVDA)

Waterloo Capital L.P. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,094.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,316 shares of the computer hardware maker’s stock after acquiring an additional 70,845 shares during the period. NVIDIA makes up approximately 1.1% of Waterloo Capital L.P.’s portfolio, making the stock its 19th largest position. Waterloo Capital L.P.’s holdings in NVIDIA were worth $9,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hamilton Wealth LLC increased its stake in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the period. Brooklyn FI LLC boosted its position in NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares in the last quarter. Curran Financial Partners LLC boosted its position in NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC boosted its position in NVIDIA by 2.6% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after buying an additional 12 shares in the last quarter. Finally, WFA Asset Management Corp boosted its position in NVIDIA by 10.1% in the first quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock valued at $138,000 after buying an additional 14 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NVDA. Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Citigroup boosted their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research report on Thursday, October 10th. Wedbush reiterated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Trading Down 0.1 %

Shares of NASDAQ:NVDA opened at $143.59 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $123.13 and a 200-day moving average price of $113.31. The stock has a market cap of $3.53 trillion, a price-to-earnings ratio of 83.97, a PEG ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued 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. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. 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 payout ratio is currently 2.34%.

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

Insider Buying and Selling at NVIDIA

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

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.