Glass Jacobson Investment Advisors llc Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Glass Jacobson Investment Advisors llc increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 952.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,974 shares of the computer hardware maker’s stock after purchasing an additional 21,696 shares during the quarter. NVIDIA makes up approximately 1.1% of Glass Jacobson Investment Advisors llc’s portfolio, making the stock its 22nd biggest position. Glass Jacobson Investment Advisors llc’s holdings in NVIDIA were worth $2,962,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Bank of New York Mellon Corp lifted its stake in NVIDIA by 854.1% during 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 purchasing an additional 163,482,580 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA increased its position in NVIDIA by 808.6% during the second 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 buying an additional 73,589,208 shares during the period. Baillie Gifford & Co. increased its position in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the period. Finally, American Century Companies Inc. increased its position in 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. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Truist Financial lifted their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein boosted their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five investment 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. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. 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 2,756,270 shares of company stock worth $318,992,727 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 0.1 %

Shares of NASDAQ:NVDA opened at $143.59 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The stock’s fifty day simple moving average is $123.13 and its 200-day simple moving average is $113.31. The company has a market capitalization of $3.53 trillion, a P/E ratio of 83.97, a P/E/G ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

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.