Second Line Capital LLC Buys 17,766 Shares of NVIDIA Co. (NASDAQ:NVDA)

Second Line Capital LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 882.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,780 shares of the computer hardware maker’s stock after purchasing an additional 17,766 shares during the quarter. NVIDIA comprises about 0.7% of Second Line Capital LLC’s investment portfolio, making the stock its 29th largest holding. Second Line Capital LLC’s holdings in NVIDIA were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Truepoint Inc. increased its position in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the period. Legal & General Group Plc increased its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Lombard Odier Asset Management Europe Ltd raised its position in shares of NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after purchasing an additional 488,148 shares during the period. Finally, Consolidated Planning Corp lifted its holdings in shares of NVIDIA by 825.9% during the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock valued at $10,394,000 after purchasing an additional 75,046 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 4.7 %

Shares of NVDA stock opened at $132.76 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The company has a market capitalization of $3.26 trillion, a PE ratio of 62.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.67. The firm has a 50 day moving average price of $125.13 and a two-hundred day moving average price of $115.47. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,516,270 shares of company stock worth $291,803,127 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVDA shares. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. HSBC increased their target price on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.