Lane & Associates LLC Purchases 12,419 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lane & Associates LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 1,452.5% during the 2nd quarter, Holdings Channel reports. The fund owned 13,274 shares of the computer hardware maker’s stock after buying an additional 12,419 shares during the quarter. NVIDIA accounts for about 1.0% of Lane & Associates LLC’s investment portfolio, making the stock its 28th biggest holding. Lane & Associates LLC’s holdings in NVIDIA were worth $1,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in NVIDIA by 2.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,253,650 shares of the computer hardware maker’s stock worth $620,833,000 after buying an additional 31,004 shares during the period. O Dell Group LLC raised its holdings in NVIDIA by 10.6% during the 4th quarter. O Dell Group LLC now owns 597 shares of the computer hardware maker’s stock worth $296,000 after buying an additional 57 shares during the period. Aspect Partners LLC acquired a new stake in NVIDIA during the 4th quarter worth approximately $150,000. Harbour Investments Inc. raised its holdings in NVIDIA by 6.9% during the 4th quarter. Harbour Investments Inc. now owns 16,931 shares of the computer hardware maker’s stock worth $8,385,000 after buying an additional 1,086 shares during the period. Finally, Oarsman Capital Inc. raised its holdings in NVIDIA by 9.0% during the 4th quarter. Oarsman Capital Inc. now owns 7,777 shares of the computer hardware maker’s stock worth $3,851,000 after buying an additional 642 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.0 %

Shares of NVIDIA stock opened at $134.80 on Friday. The firm has a 50-day moving average of $118.54 and a 200-day moving average of $110.62. The stock has a market cap of $3.31 trillion, a PE ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced 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. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating and issued a $150.00 price objective on shares of NVIDIA in a report on Tuesday. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Westpark Capital lifted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Citigroup lifted their price objective on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Five investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.46.

View Our Latest Stock Report on NVDA

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the completion of the transaction, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,356,270 shares of company stock valued at $391,787,127 over the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Profile

(Free Report)

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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