NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Emfo LLC

Emfo LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,326.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,691 shares of the computer hardware maker’s stock after acquiring an additional 14,591 shares during the quarter. NVIDIA makes up about 1.7% of Emfo LLC’s holdings, making the stock its 14th largest holding. Emfo LLC’s holdings in NVIDIA were worth $1,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aveo Capital Partners LLC boosted its stake in NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after buying an additional 5,496 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in NVIDIA by 112.5% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock worth $345,054,000 after acquiring an additional 376,274 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in NVIDIA during the 4th quarter valued at about $2,693,000. Finally, Private Wealth Management Group LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVDA. Mizuho upped their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Stock Down 1.6 %

NVDA opened at $116.00 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market capitalization of $2.85 trillion, a P/E ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The business’s 50-day simple moving average is $115.99 and its 200-day simple moving average is $106.97.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. The company 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 firm’s revenue 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. Analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors 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 is Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,574,995 shares of the company’s stock, valued at $9,736,682,395.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,692,303 shares of company stock valued at $444,047,307. 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.