Bluefin Capital Management LLC Makes New $49.42 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Bluefin Capital Management LLC purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 400,000 shares of the computer hardware maker’s stock, valued at approximately $49,416,000. NVIDIA comprises about 12.2% of Bluefin Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors have also recently made changes to their positions in NVDA. Diversified Investment Strategies LLC bought a new stake in NVIDIA during the first quarter valued at about $357,000. Privium Fund Management UK Ltd purchased a new position in shares of NVIDIA during the 1st quarter valued at about $2,635,000. Richardson Capital Management LLC bought a new position in shares of NVIDIA during the 1st quarter valued at approximately $415,000. Red Door Wealth Management LLC increased its holdings in NVIDIA by 3.7% in the 1st quarter. Red Door Wealth Management LLC now owns 22,734 shares of the computer hardware maker’s stock worth $20,541,000 after acquiring an additional 808 shares in the last quarter. Finally, Trilogy Capital Inc. raised its stake in NVIDIA by 87.2% during the 1st quarter. Trilogy Capital Inc. now owns 1,084 shares of the computer hardware maker’s stock worth $979,000 after acquiring an additional 505 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,516,270 shares of company stock valued at $291,803,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $135.40 on Friday. NVIDIA Co. has a 1-year low of $42.89 and a 1-year high of $144.42. The company’s 50-day moving average is $125.25 and its 200 day moving average is $116.01. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued 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 firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. 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 is currently 1.88%.

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. KeyCorp increased their price target on NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Monday, August 26th. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.