NVIDIA Co. (NASDAQ:NVDA) Position Lifted by Chicago Capital LLC

Chicago Capital LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 902.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 764,200 shares of the computer hardware maker’s stock after buying an additional 687,961 shares during the period. NVIDIA accounts for about 2.8% of Chicago Capital LLC’s portfolio, making the stock its 7th largest position. Chicago Capital LLC’s holdings in NVIDIA were worth $94,409,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NVDA. Bellevue Group AG acquired a new position in NVIDIA in the 4th quarter worth approximately $49,000. Visionary Wealth Advisors lifted its position in shares of NVIDIA by 3.0% during the 4th quarter. Visionary Wealth Advisors now owns 7,413 shares of the computer hardware maker’s stock valued at $3,671,000 after buying an additional 216 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of NVIDIA by 6.0% during the fourth quarter. Hancock Whitney Corp now owns 54,276 shares of the computer hardware maker’s stock worth $26,879,000 after purchasing an additional 3,084 shares in the last quarter. Northwest Wealth Management LLC raised its holdings in shares of NVIDIA by 1.5% during the fourth quarter. Northwest Wealth Management LLC now owns 1,969 shares of the computer hardware maker’s stock valued at $975,000 after acquiring an additional 30 shares during the last quarter. Finally, Ethic Inc. lifted its stake in NVIDIA by 6.1% in the 4th quarter. Ethic Inc. now owns 163,511 shares of the computer hardware maker’s stock worth $80,974,000 after purchasing an additional 9,461 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 4.0 %

NVDA stock 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 12 month low of $39.23 and a 12 month high of $140.76. The firm has a market capitalization of $3.27 trillion, a PE ratio of 77.71, a P/E/G ratio of 1.05 and a beta of 1.67. The company’s 50 day simple moving average is $116.58 and its 200-day simple moving average is $109.74.

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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently announced 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 2.34%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVDA shares. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Tuesday. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling at NVIDIA

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

About NVIDIA

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.