NVIDIA Co. (NASDAQ:NVDA) is Van ECK Associates Corp’s 2nd Largest Position

Van ECK Associates Corp grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,966,350 shares of the computer hardware maker’s stock after acquiring an additional 3,957,832 shares during the period. NVIDIA comprises 5.9% of Van ECK Associates Corp’s investment portfolio, making the stock its 2nd biggest holding. Van ECK Associates Corp owned approximately 0.18% of NVIDIA worth $5,339,274,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NVDA. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. CGC Financial Services LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter worth approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in NVIDIA in the 2nd quarter valued at approximately $31,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA opened at $132.00 on Tuesday. The stock has a market capitalization of $3.23 trillion, a P/E ratio of 51.95, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The company’s fifty day moving average is $139.84 and its two-hundred day moving average is $126.92.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, 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 have sold a total of 1,628,156 shares of company stock worth $197,995,077 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA 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.