Selkirk Management LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 900.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,000 shares of the computer hardware maker’s stock after buying an additional 45,900 shares during the quarter. NVIDIA comprises 3.0% of Selkirk Management LLC’s portfolio, making the stock its 11th biggest holding. Selkirk Management LLC’s holdings in NVIDIA were worth $6,301,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Truepoint Inc. lifted its position in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the period. Lombard Odier Asset Management Europe Ltd lifted its holdings in NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after purchasing an additional 488,148 shares in the last quarter. Consolidated Planning Corp boosted its stake in NVIDIA by 825.9% in the 2nd quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after purchasing an additional 75,046 shares during the period. Finally, ProShare Advisors LLC grew its holdings in NVIDIA by 898.4% during the 2nd quarter. ProShare Advisors LLC now owns 15,857,702 shares of the computer hardware maker’s stock valued at $1,959,061,000 after buying an additional 14,269,378 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Trading Up 0.5 %
NVDA opened at $141.25 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. The stock’s fifty day moving average is $124.74 and its two-hundred day moving average is $115.18. The company has a market capitalization of $3.46 trillion, a P/E ratio of 66.25, a PEG ratio of 1.50 and a beta of 1.67. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42.
NVIDIA Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders 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 dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.
NVIDIA declared that its Board of Directors has initiated a share repurchase program 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
NVDA has been the subject of a number of research reports. Evercore ISI upped their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.
Get Our Latest Stock Report on NVIDIA
Insider Activity
In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on 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 approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,636,270 shares of company stock worth $305,367,927. Corporate insiders own 4.23% of the company’s stock.
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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