Nilsine Partners LLC Has $18.44 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Nilsine Partners LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 887.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,226 shares of the computer hardware maker’s stock after buying an additional 134,109 shares during the quarter. NVIDIA accounts for about 2.5% of Nilsine Partners LLC’s portfolio, making the stock its 4th biggest holding. Nilsine Partners LLC’s holdings in NVIDIA were worth $18,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Lafayette Investments Inc. grew its stake in NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares in the last quarter. BLB&B Advisors LLC grew its stake in NVIDIA by 843.8% in the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after purchasing an additional 510,294 shares in the last quarter. Cypress Point Wealth Management LLC grew its stake in NVIDIA by 772.8% in the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after purchasing an additional 5,294 shares in the last quarter. McAdam LLC lifted its position in shares of NVIDIA by 945.0% in the second quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock valued at $10,453,000 after buying an additional 76,517 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of NVIDIA by 863.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 429,618 shares of the computer hardware maker’s stock valued at $53,075,000 after buying an additional 385,015 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Down 2.1 %

Shares of NVDA opened at $121.40 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The business’s fifty day moving average is $115.88 and its 200-day moving average is $108.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s payout ratio is presently 2.34%.

NVIDIA declared that its Board of Directors has initiated a share repurchase 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,397,403 shares of company stock valued at $526,762,784. 4.23% of the stock is currently owned by company insiders.

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.