Gainplan LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Gainplan LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,905 shares of the computer hardware maker’s stock after buying an additional 1,152 shares during the period. NVIDIA makes up 0.4% of Gainplan LLC’s holdings, making the stock its 29th biggest position. Gainplan LLC’s holdings in NVIDIA were worth $853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Vanguard Group Inc. raised its position in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the period. Legal & General Group Plc raised its position in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% during the 2nd 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. raised its position in shares of NVIDIA by 870.3% during the 2nd 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 during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,276,270 shares of company stock worth $267,363,927 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $139.91 on Wednesday. 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 Co. has a 52-week low of $44.90 and a 52-week high of $144.42. The business’s 50-day moving average price is $125.68 and its 200 day moving average price is $117.05. The firm has a market cap of $3.43 trillion, a P/E ratio of 65.62, a P/E/G ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its board has approved a stock repurchase program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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 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 dividend payout ratio (DPR) is presently 1.88%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.