Davidson Capital Management Inc. Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Davidson Capital Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 691.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,565 shares of the computer hardware maker’s stock after purchasing an additional 27,579 shares during the period. NVIDIA makes up approximately 1.2% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Davidson Capital Management Inc.’s holdings in NVIDIA were worth $3,899,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of 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 lifted its holdings in NVIDIA by 1,123.2% during the 2nd 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 buying an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the period. Baillie Gifford & Co. grew its stake in NVIDIA by 696.6% in 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 acquiring an additional 71,757,065 shares in the last quarter. Finally, American Century Companies Inc. increased 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 acquiring an additional 66,151,750 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade 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 this link. In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated 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 owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,756,270 shares of company stock worth $318,992,727 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NVDA shares. The Goldman Sachs Group increased their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Mizuho increased their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their price target on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Down 2.8 %

NVIDIA stock opened at $139.56 on Thursday. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $144.42. The company has a market cap of $3.42 trillion, a PE ratio of 65.46, a PEG ratio of 1.25 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 business’s 50-day simple moving average is $123.56 and its two-hundred day simple moving average is $113.50.

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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

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.