NVIDIA Co. (NASDAQ:NVDA) is Great Lakes Advisors LLC’s 6th Largest Position

Great Lakes Advisors LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 781.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,267,128 shares of the computer hardware maker’s stock after purchasing an additional 1,123,419 shares during the quarter. NVIDIA accounts for approximately 1.4% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Great Lakes Advisors LLC’s holdings in NVIDIA were worth $156,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Evercore ISI upped their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday. UBS Group reiterated a “buy” rating and issued a $150.00 target price on shares of NVIDIA in a research report on Tuesday. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.10.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.03, for a total value of $15,603,600.00. Following the sale, the chief executive officer now owns 79,014,995 shares of the company’s stock, valued at approximately $10,274,319,799.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 156,023 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $129.81, for a total value of $20,253,345.63. Following the sale, the director now owns 8,585,217 shares of the company’s stock, valued at approximately $1,114,447,018.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $130.03, for a total value of $15,603,600.00. Following the transaction, the chief executive officer now directly owns 79,014,995 shares of the company’s stock, valued at $10,274,319,799.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,577,403 shares of company stock valued at $420,166,534. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $132.89 on Wednesday. The firm’s fifty day simple moving average is $116.58 and its 200-day simple moving average is $109.74. 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 $3.27 trillion, a PE ratio of 77.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

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 shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.