Rosenberg Matthew Hamilton Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Rosenberg Matthew Hamilton increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 887.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,686 shares of the computer hardware maker’s stock after acquiring an additional 17,693 shares during the quarter. NVIDIA makes up about 0.7% of Rosenberg Matthew Hamilton’s holdings, making the stock its 22nd largest position. Rosenberg Matthew Hamilton’s holdings in NVIDIA were worth $2,447,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Aveo Capital Partners LLC raised its stake in shares of NVIDIA by 30.5% in the fourth quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares during the period. Gryphon Financial Partners LLC raised 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 valued at $7,188,000 after buying an additional 5,496 shares during the period. Montrusco Bolton Investments Inc. raised its stake in shares of NVIDIA by 112.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 710,612 shares of the computer hardware maker’s stock valued at $345,054,000 after buying an additional 376,274 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at $2,693,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at $211,000. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVDA shares. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial lifted their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Westpark Capital lifted their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, HSBC lifted their price target on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five equities 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

NVDA opened at $116.00 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $115.99 and a 200-day moving average price of $106.97. The stock has a market capitalization of $2.85 trillion, a P/E ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during 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%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. Equities analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given 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%.

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.