Tobam Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Tobam grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 811.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,489 shares of the computer hardware maker’s stock after acquiring an additional 36,937 shares during the quarter. Tobam’s holdings in NVIDIA were worth $5,126,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA during the 1st quarter worth approximately $30,000. Norwood Financial Corp purchased a new position in NVIDIA in the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners grew its position in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold a total of 4,197,403 shares of company stock valued at $501,955,984 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Jefferies Financial Group upped their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. UBS Group lifted their target price on NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Finally, Wedbush reiterated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $117.00 on Wednesday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The firm has a market cap of $2.88 trillion, a P/E ratio of 68.42, a PEG ratio of 1.05 and a beta of 1.67. The stock has a fifty day moving average price of $115.72 and a two-hundred day moving average price of $108.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.