Evergreen Capital Management LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 793.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 368,815 shares of the computer hardware maker’s stock after acquiring an additional 327,537 shares during the period. NVIDIA comprises approximately 1.6% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Evergreen Capital Management LLC’s holdings in NVIDIA were worth $45,563,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% in the first 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. Bank of New York Mellon Corp lifted its stake 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 valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the second 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 purchasing an additional 73,589,208 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in NVIDIA by 696.6% in the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.
NVIDIA Price Performance
NVIDIA stock opened at $141.54 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The stock has a market cap of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a 50-day moving average price of $124.25 and a 200 day moving average price of $114.26. 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 firm 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.
NVIDIA declared that its Board of Directors has initiated a stock repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Bank of America lifted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Five 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 company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $143.07.
View Our Latest Research Report on NVIDIA
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the sale, the chief executive officer now owns 77,334,995 shares of the company’s stock, valued at approximately $8,741,947,834.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the completion of the transaction, the chief executive officer now directly owns 77,334,995 shares in the company, valued at $8,741,947,834.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,636,270 shares of company stock worth $305,367,927 over the last 90 days. 4.23% of the stock is owned by 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.
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