Interchange Capital Partners LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Interchange Capital Partners LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,618 shares of the computer hardware maker’s stock after buying an additional 2,009 shares during the period. NVIDIA makes up approximately 1.2% of Interchange Capital Partners LLC’s holdings, making the stock its 17th largest holding. Interchange Capital Partners LLC’s holdings in NVIDIA were worth $3,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in the 2nd 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 during the period. Bank of New York Mellon Corp lifted its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of NVIDIA by 870.3% in 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 acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of NVIDIA by 1,123.2% in 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 acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $134.25 on Friday. The company has a 50-day simple moving average of $139.76 and a 200-day simple moving average of $126.60. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock worth $197,995,077 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on NVDA shares. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Melius Research increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.