jvl associates llc Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

jvl associates llc boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,547 shares of the computer hardware maker’s stock after buying an additional 1,417 shares during the quarter. NVIDIA accounts for about 0.5% of jvl associates llc’s portfolio, making the stock its 27th largest holding. jvl associates llc’s holdings in NVIDIA were worth $1,281,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc boosted its holdings in NVIDIA by 884.0% during 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 buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 2.8 %

NASDAQ NVDA opened at $139.91 on Wednesday. NVIDIA Co. has a 12 month low of $44.90 and a 12 month high of $144.42. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 65.62, a PEG ratio of 1.43 and a beta of 1.66. The firm’s 50-day moving average is $125.68 and its two-hundred day moving average is $117.05. 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 posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,276,270 shares of company stock worth $267,363,927. 4.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. KeyCorp boosted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Benchmark reiterated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.07.

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.