Greystone Financial Group LLC Purchases 18,318 Shares of NVIDIA Co. (NASDAQ:NVDA)

Greystone Financial Group LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 975.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,195 shares of the computer hardware maker’s stock after acquiring an additional 18,318 shares during the quarter. Greystone Financial Group LLC’s holdings in NVIDIA were worth $2,495,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. boosted its stake in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in NVIDIA by 829.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after acquiring an additional 57,160,191 shares during the last quarter. Rhumbline Advisers raised its stake 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 in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of NVIDIA by 741.8% in the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after acquiring an additional 35,255,679 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 4.0 %

Shares of NASDAQ NVDA opened at $132.89 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The stock has a market capitalization of $3.27 trillion, a P/E ratio of 77.71, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a 50-day moving average price of $116.58 and a 200-day moving average price of $109.74.

NVIDIA (NASDAQ:NVDA) last issued 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. The firm 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 revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

Insider Activity

In related news, Director Mark A. Stevens sold 156,023 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $129.81, for a total transaction of $20,253,345.63. Following the transaction, the director now directly owns 8,585,217 shares in the company, valued at approximately $1,114,447,018.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, Director Mark A. Stevens sold 156,023 shares of the business’s stock in a transaction 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 transaction, the director now owns 8,585,217 shares of the company’s stock, valued at approximately $1,114,447,018.77. The trade was 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 this link. Also, EVP Ajay K. Puri sold 100,110 shares of the firm’s stock in a transaction 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 3,577,403 shares of company stock worth $420,166,534 over the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Tigress Financial increased their price target on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $135.00 price target on shares of NVIDIA in a report on Monday, August 19th. Five equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.