NVIDIA Co. (NASDAQ:NVDA) Position Raised by Hoge Financial Services LLC

Hoge Financial Services LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,666.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,650 shares of the computer hardware maker’s stock after acquiring an additional 10,047 shares during the quarter. NVIDIA comprises about 1.1% of Hoge Financial Services LLC’s investment portfolio, making the stock its 15th largest holding. Hoge Financial Services LLC’s holdings in NVIDIA were worth $1,316,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% during 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 period. Baillie Gifford & Co. raised its holdings in shares of NVIDIA by 696.6% during 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 during the last quarter. American Century Companies Inc. boosted its position in shares of NVIDIA by 882.4% during the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after buying an additional 66,151,750 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in NVIDIA by 829.0% in the 2nd 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 period. Finally, Rhumbline Advisers raised its stake in NVIDIA by 892.0% during the 2nd 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. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Tench Coxe sold 1,000,000 shares of the company’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 directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. 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. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,996,270 shares of company stock valued at $347,729,127 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $136.93 on Friday. The stock has a market cap of $3.37 trillion, a P/E ratio of 80.08, a P/E/G ratio of 1.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a 50 day simple moving average of $121.22 and a 200 day simple moving average of $111.86. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $28.74 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically 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. 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 payout ratio is currently 2.34%.

Analyst Ratings Changes

Several research firms have recently issued reports on NVDA. The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Citigroup raised their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five equities research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

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.