Delaney Dennis R Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Delaney Dennis R increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 844.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,830 shares of the computer hardware maker’s stock after acquiring an additional 73,168 shares during the period. NVIDIA comprises about 5.5% of Delaney Dennis R’s holdings, making the stock its 2nd largest holding. Delaney Dennis R’s holdings in NVIDIA were worth $10,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Baillie Gifford & Co. raised its stake in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after acquiring an additional 71,757,065 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of 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 purchasing an additional 66,151,750 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.8 %

NVIDIA stock opened at $139.56 on Thursday. The business has a 50-day simple moving average of $123.56 and a two-hundred day simple moving average of $113.50. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. 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 company has a market cap of $3.42 trillion, a P/E ratio of 65.46, 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 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,756,270 shares of company stock valued at $318,992,727. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Raymond James lifted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Finally, William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.