NVIDIA Co. (NASDAQ:NVDA) is Los Angeles Capital Management LLC’s Largest Position

Los Angeles Capital Management LLC lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 834.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,556,376 shares of the computer hardware maker’s stock after buying an additional 15,678,557 shares during the period. NVIDIA comprises 7.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its largest position. Los Angeles Capital Management LLC owned 0.07% of NVIDIA worth $2,168,915,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the 1st quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Thursday, August 29th. KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Jefferies Financial Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares in the company, valued at approximately $512,509,435. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,577,403 shares of company stock worth $420,166,534 over the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NVDA opened at $132.89 on Wednesday. The company has a market capitalization of $3.27 trillion, a P/E ratio of 77.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. 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. The firm has a 50 day moving average of $116.58 and a 200 day moving average of $109.74.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. 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 company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.