Anchor Investment Management LLC Has $9.01 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Anchor Investment Management LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,087.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 72,927 shares of the computer hardware maker’s stock after acquiring an additional 66,788 shares during the period. NVIDIA accounts for about 0.9% of Anchor Investment Management LLC’s holdings, making the stock its 25th largest position. Anchor Investment Management LLC’s holdings in NVIDIA were worth $9,009,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 2.0 %

NASDAQ NVDA opened at $135.40 on Monday. The stock has a fifty day moving average of $125.25 and a 200-day moving average of $116.24. The stock has a market capitalization of $3.32 trillion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 52 week low of $42.89 and a 52 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.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

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 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. The Goldman Sachs Group raised their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a research report on Thursday, October 10th. UBS Group reiterated a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Five investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,396,270 shares of company stock valued at $279,825,927 over the last three months. Company insiders own 4.23% of the company’s stock.

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.