NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Absoluto Partners Gestao de Recursos Ltda

Absoluto Partners Gestao de Recursos Ltda raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 462.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,988 shares of the computer hardware maker’s stock after purchasing an additional 9,033 shares during the period. NVIDIA comprises 0.8% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 19th largest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in NVIDIA were worth $1,286,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new position in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NVDA shares. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Raymond James lifted their price objective on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group lifted their price objective on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Mizuho lifted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on 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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $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 sold 2,636,270 shares of company stock valued at $305,367,927 in the last three months. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 0.7 %

NVDA opened at $140.52 on Tuesday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $144.42. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a PEG ratio of 1.50 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 fifty day moving average price of $124.46 and a 200 day moving average price of $114.81.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

About NVIDIA

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.