Chapin Davis Inc. Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Chapin Davis Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,500 shares of the computer hardware maker’s stock after acquiring an additional 2,501 shares during the period. NVIDIA accounts for 6.6% of Chapin Davis Inc.’s portfolio, making the stock its 2nd largest position. Chapin Davis Inc.’s holdings in NVIDIA were worth $20,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the first quarter valued at about $30,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA during the first quarter valued at about $82,000. Finally, Slocum Gordon & Co LLP acquired a new position in shares of NVIDIA during the first quarter valued at about $98,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.8 %

NVDA opened at $147.63 on Friday. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 69.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The business’s 50 day moving average is $127.27 and its two-hundred day moving average is $117.94. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

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

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Evercore ISI increased their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 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.