NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Granite Investment Partners LLC

Granite Investment Partners LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 895.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 392,294 shares of the computer hardware maker’s stock after buying an additional 352,905 shares during the period. NVIDIA accounts for about 2.0% of Granite Investment Partners LLC’s portfolio, making the stock its 3rd largest holding. Granite Investment Partners LLC’s holdings in NVIDIA were worth $48,464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truepoint Inc. grew its position in shares of NVIDIA by 914.1% in the 2nd 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 during the period. Consolidated Planning Corp lifted its stake in NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after purchasing an additional 75,046 shares during the last quarter. International Private Wealth Advisors LLC grew its holdings in NVIDIA by 1,452.1% during the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after purchasing an additional 7,028 shares during the period. Lafayette Investments Inc. raised its stake in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after buying an additional 5,140 shares during the period. Finally, AMJ Financial Wealth Management lifted its position in shares of NVIDIA by 898.7% in the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock valued at $7,326,000 after buying an additional 53,362 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, 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 transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. 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 link. Also, 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 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 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 over the last three months. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Down 2.8 %

NASDAQ:NVDA opened at $139.56 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a one year low of $39.23 and a one year high of $144.42. The firm’s 50 day simple moving average is $123.56 and its 200 day simple moving average is $113.50. The company has a market cap of $3.42 trillion, a PE ratio of 65.46, a P/E/G ratio of 1.25 and a beta of 1.67.

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, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVDA shares. William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp raised their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Finally, Mizuho raised their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price 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.