NVIDIA Co. (NASDAQ:NVDA) is Ieq Capital LLC’s 6th Largest Position

Ieq Capital LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 973.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,061,053 shares of the computer hardware maker’s stock after acquiring an additional 1,869,128 shares during the period. NVIDIA comprises approximately 3.4% of Ieq Capital LLC’s investment portfolio, making the stock its 6th biggest position. Ieq Capital LLC’s holdings in NVIDIA were worth $254,622,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter worth about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 2.8 %

Shares of NVDA stock opened at $139.56 on Thursday. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 65.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a 50 day moving average price of $123.56 and a 200 day moving average price of $113.50.

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

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVDA shares. DA Davidson reissued a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp increased their target price on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. 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 through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on 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 directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade 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 2,756,270 shares of company stock worth $318,992,727. Company insiders own 4.23% of the company’s stock.

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.