NVIDIA Co. (NASDAQ:NVDA) is Sunbelt Securities Inc.’s Largest Position

Sunbelt Securities Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 898.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,704 shares of the computer hardware maker’s stock after acquiring an additional 318,284 shares during the period. NVIDIA comprises approximately 4.5% of Sunbelt Securities Inc.’s portfolio, making the stock its biggest holding. Sunbelt Securities Inc.’s holdings in NVIDIA were worth $43,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Front Row Advisors LLC raised its holdings in shares of NVIDIA by 804.6% during the second quarter. Front Row Advisors LLC now owns 297,440 shares of the computer hardware maker’s stock worth $36,746,000 after acquiring an additional 264,559 shares in the last quarter. Coastal Bridge Advisors LLC raised its holdings in shares of NVIDIA by 1,012.6% during the second quarter. Coastal Bridge Advisors LLC now owns 19,070 shares of the computer hardware maker’s stock worth $2,356,000 after acquiring an additional 17,356 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of NVIDIA by 874.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,022,223 shares of the computer hardware maker’s stock worth $620,453,000 after acquiring an additional 4,507,007 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of NVIDIA by 1,179.9% during the second quarter. NewEdge Advisors LLC now owns 3,275,422 shares of the computer hardware maker’s stock worth $372,781,000 after acquiring an additional 3,019,514 shares in the last quarter. Finally, Ascension Asset Management LLC raised its holdings in shares of NVIDIA by 842.7% during the second quarter. Ascension Asset Management LLC now owns 173,450 shares of the computer hardware maker’s stock worth $21,428,000 after acquiring an additional 155,050 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 4.7 %

NASDAQ NVDA opened at $132.76 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $125.13 and its two-hundred day moving average is $115.47. The company has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 62.33, a PEG ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $144.42.

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

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred 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 transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred 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 transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were 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 of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,516,270 shares of company stock worth $291,803,127. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Needham & Company LLC raised their target price on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. KeyCorp raised their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, Craig Hallum raised their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.07.

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.