North Star Asset Management Inc. Purchases 206,705 Shares of NVIDIA Co. (NASDAQ:NVDA)

North Star Asset Management Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA) by 852.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 230,966 shares of the computer hardware maker’s stock after buying an additional 206,705 shares during the period. NVIDIA comprises approximately 1.4% of North Star Asset Management Inc.’s holdings, making the stock its 22nd largest holding. North Star Asset Management Inc.’s holdings in NVIDIA were worth $28,534,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Atlas Financial Advisors Inc. raised its stake in NVIDIA by 823.0% during the 2nd quarter. Atlas Financial Advisors Inc. now owns 2,889 shares of the computer hardware maker’s stock worth $357,000 after buying an additional 2,576 shares during the period. New York Life Investment Management LLC raised its stake in NVIDIA by 951.0% during the 2nd quarter. New York Life Investment Management LLC now owns 3,550,882 shares of the computer hardware maker’s stock worth $438,676,000 after buying an additional 3,213,013 shares during the period. Northwest Wealth Management LLC raised its stake in NVIDIA by 1,039.1% during the 2nd quarter. Northwest Wealth Management LLC now owns 32,385 shares of the computer hardware maker’s stock worth $4,001,000 after buying an additional 29,542 shares during the period. Addison Advisors LLC raised its stake in NVIDIA by 993.3% during the 2nd quarter. Addison Advisors LLC now owns 17,536 shares of the computer hardware maker’s stock worth $2,166,000 after buying an additional 15,932 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in NVIDIA by 881.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 96,073 shares of the computer hardware maker’s stock worth $11,869,000 after buying an additional 86,282 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 2.2 %

Shares of NVIDIA stock opened at $127.72 on Tuesday. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company’s 50 day moving average is $116.26 and its 200 day moving average is $109.49. NVIDIA Co. has a twelve month low of $39.23 and a twelve month 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 announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 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 analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was 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%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,697,403 shares of company stock valued at $436,258,534 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NVDA. StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. The Goldman Sachs Group reissued a “buy” rating and issued a $135.00 price target on shares of NVIDIA in a research note on Monday, August 19th. Evercore ISI lifted their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley raised their price objective on NVIDIA from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

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.