NVIDIA Co. (NASDAQ:NVDA) Position Raised by Banco Santander S.A.

Banco Santander S.A. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 837.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,968,649 shares of the computer hardware maker’s stock after purchasing an additional 1,758,708 shares during the quarter. NVIDIA comprises 3.0% of Banco Santander S.A.’s portfolio, making the stock its 3rd largest position. Banco Santander S.A.’s holdings in NVIDIA were worth $243,207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVDA. Bank of New York Mellon Corp grew 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 valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after buying an additional 71,757,065 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after buying an additional 57,160,191 shares during the last quarter. Swedbank AB grew its holdings in shares of NVIDIA by 798.8% during the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock valued at $4,820,576,000 after buying an additional 34,678,944 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $14,606,369,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVDA shares. Argus raised their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Bank of America restated a “buy” rating and issued a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Finally, KeyCorp raised their target price on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The disclosure for this sale can be found here. Insiders have sold a total of 3,692,303 shares of company stock worth $444,047,307 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.6 %

Shares of NVDA stock opened at $116.00 on Friday. The stock has a market cap of $2.85 trillion, a P/E ratio of 67.84, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $115.99 and its two-hundred day simple moving average is $107.11.

NVIDIA (NASDAQ:NVDA) last announced 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 business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Analysts predict that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has approved a stock repurchase plan 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.