Quarry LP Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Quarry LP lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 2,676.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,860 shares of the computer hardware maker’s stock after buying an additional 1,793 shares during the period. Quarry LP’s holdings in NVIDIA were worth $230,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NVDA. Diversified Investment Strategies LLC purchased a new stake in shares of NVIDIA during the first quarter worth about $357,000. Privium Fund Management UK Ltd acquired a new stake in NVIDIA during the 1st quarter valued at approximately $2,635,000. Astoria Portfolio Advisors LLC. increased its holdings in NVIDIA by 3.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 9,132 shares of the computer hardware maker’s stock worth $7,853,000 after purchasing an additional 264 shares during the last quarter. OneAscent Wealth Management LLC raised its position in shares of NVIDIA by 49.2% in the 1st quarter. OneAscent Wealth Management LLC now owns 785 shares of the computer hardware maker’s stock valued at $709,000 after purchasing an additional 259 shares in the last quarter. Finally, OneAscent Financial Services LLC boosted its stake in shares of NVIDIA by 6.5% during the 1st quarter. OneAscent Financial Services LLC now owns 5,920 shares of the computer hardware maker’s stock valued at $5,349,000 after buying an additional 359 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $132.76 on Friday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $144.42. The company has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 62.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. The business has a 50 day moving average price of $125.13 and a two-hundred day moving average price of $115.47. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVDA shares. KeyCorp upped their price target on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Activity at NVIDIA

In other NVIDIA 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 transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on 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 transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. 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 2,516,270 shares of company stock valued at $291,803,127 over the last ninety days. 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.