Private Management Group Inc. Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Private Management Group Inc. lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 1,070.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,186 shares of the computer hardware maker’s stock after buying an additional 8,401 shares during the period. Private Management Group Inc.’s holdings in NVIDIA were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter worth $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the first quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Tuesday. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. KeyCorp raised their price target on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Mizuho increased their target price on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, DA Davidson reissued a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Stock Up 1.6 %

Shares of NVDA opened at $134.81 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $117.48 and its 200 day moving average price is $110.17. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The firm has a market cap of $3.32 trillion, a P/E ratio of 78.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,201,270 shares of company stock worth $371,285,277 in the last 90 days. 4.23% of the stock is owned by insiders.

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.