NVIDIA Co. (NASDAQ:NVDA) is Commons Capital LLC’s Largest Position

Commons Capital LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 914.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,731 shares of the computer hardware maker’s stock after buying an additional 126,860 shares during the period. NVIDIA comprises about 20.9% of Commons Capital LLC’s holdings, making the stock its largest position. Commons Capital LLC’s holdings in NVIDIA were worth $17,386,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. 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 worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of NVIDIA by 696.6% in 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. boosted its position in 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 worth $7,913,435,000 after acquiring an additional 57,160,191 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in NVIDIA by 892.0% during the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after acquiring an additional 42,025,613 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the sale, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at approximately $10,628,094,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the sale, the chief executive officer now owns 79,254,995 shares in the company, valued at approximately $10,628,094,829.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,077,403 shares of company stock worth $486,699,184. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Bank of America restated a “buy” rating and issued a $165.00 price target on shares of NVIDIA in a report on Thursday, September 5th. Susquehanna increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a report on Monday, June 10th. UBS Group raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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. According to MarketBeat, the company 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 $124.92 on Friday. The stock has a market capitalization of $3.07 trillion, a P/E ratio of 73.05, a P/E/G ratio of 1.05 and a beta of 1.67. The firm’s 50-day moving average price is $116.26 and its two-hundred day moving average price is $109.35. 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.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business 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%. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) 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.