Panagora Asset Management Inc. Has $1.27 Billion Position in NVIDIA Co. (NASDAQ:NVDA)

Panagora Asset Management Inc. grew its position in NVIDIA Co. (NASDAQ:NVDA) by 942.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,243,894 shares of the computer hardware maker’s stock after acquiring an additional 9,261,451 shares during the period. NVIDIA accounts for approximately 6.4% of Panagora Asset Management Inc.’s investment portfolio, making the stock its biggest position. Panagora Asset Management Inc.’s holdings in NVIDIA were worth $1,265,531,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Aveo Capital Partners LLC increased its holdings in 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 purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC increased its holdings in 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 purchasing an additional 5,496 shares during the period. Hillsdale Investment Management Inc. increased its holdings in NVIDIA by 0.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,515 shares of the computer hardware maker’s stock valued at $2,236,000 after purchasing an additional 30 shares during the period. Schneider Downs Wealth Management Advisors LP acquired a new stake in NVIDIA in the fourth quarter valued at $410,000. Finally, Gladstone Institutional Advisory LLC increased its holdings in NVIDIA by 4.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 35,949 shares of the computer hardware maker’s stock valued at $17,803,000 after purchasing an additional 1,490 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark A. Stevens sold 385,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $130.74, for a total value of $50,334,900.00. Following the sale, the director now owns 9,141,240 shares of the company’s stock, valued at approximately $1,195,125,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,472,303 shares of company stock valued at $417,461,507. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Raymond James increased their price objective on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Mizuho increased their price target on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Melius Research increased their price target on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Truist Financial increased their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

NVIDIA stock opened at $116.00 on Monday. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The company’s 50 day moving average price is $115.99 and its two-hundred day moving average price is $107.24. 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 stock has a market cap of $2.85 trillion, a P/E ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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

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.