Thompson Siegel & Walmsley LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Thompson Siegel & Walmsley LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 972.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,690 shares of the computer hardware maker’s stock after purchasing an additional 189,228 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in NVIDIA were worth $25,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MayTech Global Investments LLC increased its stake in shares of NVIDIA by 887.2% in the 2nd quarter. MayTech Global Investments LLC now owns 1,215,472 shares of the computer hardware maker’s stock worth $150,159,000 after purchasing an additional 1,092,355 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in NVIDIA by 886.3% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 57,521 shares of the computer hardware maker’s stock worth $7,106,000 after buying an additional 51,689 shares in the last quarter. Mystic Asset Management Inc. increased its stake in NVIDIA by 866.5% in the 2nd quarter. Mystic Asset Management Inc. now owns 112,510 shares of the computer hardware maker’s stock worth $13,900,000 after buying an additional 100,869 shares in the last quarter. Taurus Asset Management LLC increased its stake in NVIDIA by 901.4% in the 2nd quarter. Taurus Asset Management LLC now owns 6,970 shares of the computer hardware maker’s stock worth $861,000 after buying an additional 6,274 shares in the last quarter. Finally, Pinion Investment Advisors LLC increased its stake in NVIDIA by 992.3% in the 2nd quarter. Pinion Investment Advisors LLC now owns 18,340 shares of the computer hardware maker’s stock worth $2,266,000 after buying an additional 16,661 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVDA shares. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

NVIDIA stock opened at $138.00 on Friday. 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 $140.89. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 80.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The company’s 50-day moving average is $121.88 and its 200 day moving average is $112.19.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,996,270 shares of company stock valued at $347,729,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Company 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.