ProShare Advisors LLC Has $1.96 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

ProShare Advisors LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 898.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,857,702 shares of the computer hardware maker’s stock after acquiring an additional 14,269,378 shares during the period. NVIDIA makes up approximately 5.2% of ProShare Advisors LLC’s holdings, making the stock its biggest position. ProShare Advisors LLC owned approximately 0.06% of NVIDIA worth $1,959,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC purchased a new stake in shares of NVIDIA during the 1st quarter valued at about $30,000. Norwood Financial Corp bought a new position in shares of NVIDIA in the 1st quarter worth approximately $45,000. Finally, Coston McIsaac & Partners boosted its holdings in shares of NVIDIA by 231.3% in 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 during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $141.54 on Friday. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a 50 day simple moving average of $123.91 and a 200-day simple moving average of $113.68. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $144.42.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared 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 of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

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

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Sanford C. Bernstein upped their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Evercore ISI upped their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Benchmark reiterated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Wells Fargo & Company upped their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $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 2,636,270 shares of company stock valued at $305,367,927 in the last ninety days. 4.23% of the stock is 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.