3Chopt Investment Partners LLC Has $18.59 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

3Chopt Investment Partners LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 919.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,505 shares of the computer hardware maker’s stock after acquiring an additional 135,741 shares during the period. NVIDIA makes up approximately 5.7% of 3Chopt Investment Partners LLC’s portfolio, making the stock its 3rd biggest position. 3Chopt Investment Partners LLC’s holdings in NVIDIA were worth $18,593,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Heartland Bank & Trust Co raised its position in shares of NVIDIA by 875.5% in the 2nd quarter. Heartland Bank & Trust Co now owns 76,959 shares of the computer hardware maker’s stock worth $9,508,000 after acquiring an additional 69,070 shares in the last quarter. SPC Financial Inc. increased its position in NVIDIA by 905.1% in the 2nd quarter. SPC Financial Inc. now owns 9,840 shares of the computer hardware maker’s stock valued at $1,216,000 after buying an additional 8,861 shares in the last quarter. Granite Bay Wealth Management LLC increased its position in NVIDIA by 1,254.3% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 7,963 shares of the computer hardware maker’s stock valued at $984,000 after buying an additional 7,375 shares in the last quarter. Ted Buchan & Co bought a new stake in NVIDIA in the 2nd quarter valued at about $5,482,000. Finally, Advisory Alpha LLC increased its position in NVIDIA by 980.8% in the 2nd quarter. Advisory Alpha LLC now owns 94,135 shares of the computer hardware maker’s stock valued at $11,630,000 after buying an additional 85,425 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. HSBC boosted their target price on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. KeyCorp boosted their target price on NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Five equities 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

NVIDIA stock opened at $135.40 on Friday. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $125.25 and its 200 day simple moving average is $115.81. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 63.51, a PEG ratio of 1.47 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has approved 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 owns 77,094,995 shares of the company’s stock, valued at $7,694,851,450.95. 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. In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total value of $11,977,200.00. Following the transaction, the chief executive officer now owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,516,270 shares of company stock valued at $291,803,127 in the last 90 days. 4.23% of the stock is currently owned by company 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.