Northcape Capital Pty Ltd Has $6.51 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Northcape Capital Pty Ltd decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,636 shares of the computer hardware maker’s stock after selling 1,491 shares during the quarter. NVIDIA comprises approximately 1.0% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 8th biggest position. Northcape Capital Pty Ltd’s holdings in NVIDIA were worth $6,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Vanguard Group Inc. increased its position in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the period. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NVDA shares. Bank of America raised their target price on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Truist Financial raised their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, Evercore ISI upped their price target on 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-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Down 3.3 %

NVDA opened at $141.98 on Friday. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a fifty day moving average price of $130.18 and a 200-day moving average price of $119.70. 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 posted its earnings results 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. 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 analysts’ expectations of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the 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 completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Corporate 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.