Overbrook Management Corp Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Overbrook Management Corp grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 730.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,947 shares of the computer hardware maker’s stock after purchasing an additional 230,410 shares during the quarter. NVIDIA comprises about 8.2% of Overbrook Management Corp’s holdings, making the stock its 2nd biggest holding. Overbrook Management Corp’s holdings in NVIDIA were worth $32,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% during 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 in the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the 1st quarter worth about $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the 1st quarter worth about $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.9 %

NASDAQ:NVDA opened at $116.78 on Tuesday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The business has a fifty day moving average price of $117.19 and a 200-day moving average price of $106.39. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 68.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. 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 issued its quarterly earnings results 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. 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 quarter in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid 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 of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $135.87, for a total value of $16,304,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $135.87, for a total value of $16,304,400.00. Following the transaction, the chief executive officer now directly owns 80,814,995 shares in the company, valued at $10,980,333,370.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $126.99, for a total value of $12,699,000.00. Following the completion of the transaction, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at approximately $671,632,585.38. The disclosure for this sale can be found here. Insiders have sold 3,845,633 shares of company stock valued at $465,330,122 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC boosted their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. DZ Bank lowered NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 price objective for the company. in a research report on Friday, May 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a research note on Monday, August 19th. Finally, UBS Group increased their target price on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.10.

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.