Lazari Capital Management Inc. Has $9.41 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Lazari Capital Management Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 957.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,181 shares of the computer hardware maker’s stock after purchasing an additional 68,980 shares during the quarter. NVIDIA makes up about 4.2% of Lazari Capital Management Inc.’s holdings, making the stock its 6th largest position. Lazari Capital Management Inc.’s holdings in NVIDIA were worth $9,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Cim LLC raised its holdings in shares of NVIDIA by 766.8% in the second quarter. Cim LLC now owns 275,540 shares of the computer hardware maker’s stock valued at $34,040,000 after purchasing an additional 243,751 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $30,512,000. Clear Rock Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $4,208,000. Creekside Partners bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $1,982,000. Finally, NCP Inc. boosted its stake in shares of NVIDIA by 922.3% in the 2nd quarter. NCP Inc. now owns 179,890 shares of the computer hardware maker’s stock worth $22,224,000 after buying an additional 162,293 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $135.40 on Friday. 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 stock has a market cap of $3.32 trillion, a PE ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66. The company’s fifty day moving average is $125.25 and its 200 day moving average is $116.01. NVIDIA Co. has a 52 week low of $42.89 and a 52 week high of $144.42.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 dividend of $0.01 per share. 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 (DPR) is presently 1.88%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. 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 90 days, insiders sold 2,516,270 shares of company stock valued at $291,803,127. 4.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Westpark Capital increased their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price on shares of NVIDIA in a research report on Thursday, October 10th. Needham & Company LLC lifted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Raymond James increased their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial lifted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.