Plancorp LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Plancorp LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 729.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,366 shares of the computer hardware maker’s stock after purchasing an additional 40,777 shares during the quarter. Plancorp LLC’s holdings in NVIDIA were worth $5,728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of 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 purchasing an additional 71,757,065 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.8 %

NASDAQ NVDA opened at $138.00 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.89. The company’s 50 day moving average price is $121.88 and its 200 day moving average price is $112.51. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.25 and a beta of 1.67.

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

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James raised their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. HSBC lifted their price objective on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total value of $14,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,054,995 shares in the company, valued at approximately $9,151,167,613.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,876,270 shares of company stock worth $333,061,527. Corporate insiders own 4.23% of the company’s stock.

NVIDIA 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.