NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Stonebrook Private Inc.

Stonebrook Private Inc. lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 974.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,829 shares of the computer hardware maker’s stock after purchasing an additional 42,472 shares during the quarter. NVIDIA comprises about 1.7% of Stonebrook Private Inc.’s holdings, making the stock its 13th biggest holding. Stonebrook Private Inc.’s holdings in NVIDIA were worth $5,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Vanguard Group Inc. lifted its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 buying an additional 163,482,580 shares during the last quarter. Baillie Gifford & Co. raised its stake in NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after acquiring an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted 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. Finally, Rhumbline Advisers boosted its stake in NVIDIA by 892.0% in the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock valued at $5,773,914,000 after acquiring an additional 42,025,613 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. Raymond James boosted their target price on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Argus boosted their target price on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of the company’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 completion of the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 owns 3,939,350 shares of the company’s stock, valued at $512,509,435. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 156,023 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 8,585,217 shares in the company, valued at $1,114,447,018.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,577,403 shares of company stock worth $420,166,534 in the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 4.0 %

Shares of NASDAQ NVDA opened at $132.89 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The business has a 50-day moving average price of $116.58 and a two-hundred day moving average price of $109.74. The firm has a market capitalization of $3.27 trillion, a PE ratio of 77.71, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for 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%. NVIDIA’s revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. As a group, analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given 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 dividend payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.