NVIDIA Co. (NASDAQ:NVDA) is Austin Asset Management Co Inc’s 3rd Largest Position

Austin Asset Management Co Inc lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 557.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 509,045 shares of the computer hardware maker’s stock after buying an additional 431,668 shares during the quarter. NVIDIA makes up 13.4% of Austin Asset Management Co Inc’s holdings, making the stock its 3rd largest position. Austin Asset Management Co Inc’s holdings in NVIDIA were worth $62,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC purchased a new position in shares of NVIDIA in the first quarter valued at approximately $30,000. Norwood Financial Corp acquired a new position in NVIDIA during the first quarter worth about $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% during the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after buying an additional 37 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 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 value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, 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 transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,756,270 shares of company stock valued at $318,992,727 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Westpark Capital upped their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Trading Down 2.8 %

NASDAQ NVDA opened at $139.56 on Thursday. NVIDIA Co. has a one year low of $39.23 and a one year high of $144.42. The firm’s fifty day moving average is $123.56 and its two-hundred day moving average is $113.50. 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 market cap of $3.42 trillion, a PE ratio of 65.46, a P/E/G ratio of 1.25 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

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.