Steigerwald Gordon & Koch Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 917.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,670 shares of the computer hardware maker’s stock after acquiring an additional 22,245 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in NVIDIA were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Vanguard Group Inc. increased its position in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during 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 worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. grew its position in NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after buying an additional 57,160,191 shares in the last quarter. Finally, Rhumbline Advisers grew its position in NVIDIA by 892.0% during the second quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after buying an additional 42,025,613 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Trading Down 0.0 %
NVDA opened at $134.80 on Friday. The stock has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a P/E/G ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The firm’s fifty day simple moving average is $118.54 and its 200 day simple moving average is $110.74. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.
NVIDIA Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.
NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have commented on NVDA. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Citigroup boosted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.46.
View Our Latest Stock Report on NVIDIA
Insiders Place Their Bets
In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s 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 sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,356,270 shares of company stock valued at $391,787,127 in the last three months. 4.23% of the stock is currently owned by corporate insiders.
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.
Recommended Stories
- Five stocks we like better than NVIDIA
- Transportation Stocks Investing
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
- How to Plot Fibonacci Price Inflection Levels
- China’s EV Rally: Should Investors Chase, Avoid, or Buy the Dip?
- How to buy stock: A step-by-step guide for beginners
- MarketBeat Week in Review – 10/7 – 10/11
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.