Lynch Asset Management Inc. decreased its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,050 shares of the computer hardware maker’s stock after selling 1,400 shares during the quarter. NVIDIA makes up about 15.3% of Lynch Asset Management Inc.’s holdings, making the stock its biggest position. Lynch Asset Management Inc.’s holdings in NVIDIA were worth $23,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. BCM Advisors LLC raised its stake in shares of NVIDIA by 0.8% in the second quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock worth $1,390,000 after acquiring an additional 23 shares during the last quarter. IVC Wealth Advisors LLC raised its stake in shares of NVIDIA by 0.7% in the second quarter. IVC Wealth Advisors LLC now owns 3,629 shares of the computer hardware maker’s stock worth $1,535,000 after acquiring an additional 27 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its stake in shares of NVIDIA by 2.0% during the second quarter. Smallwood Wealth Investment Management LLC now owns 1,523 shares of the computer hardware maker’s stock worth $644,000 after buying an additional 30 shares during the last quarter. NovaPoint Capital LLC raised its stake in shares of NVIDIA by 0.7% during the second quarter. NovaPoint Capital LLC now owns 4,680 shares of the computer hardware maker’s stock worth $1,980,000 after buying an additional 31 shares during the last quarter. Finally, Thomasville National Bank raised its stake in shares of NVIDIA by 2.6% during the second quarter. Thomasville National Bank now owns 1,279 shares of the computer hardware maker’s stock worth $541,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.
Insiders Place Their Bets
In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 over the last ninety days. Corporate insiders own 3.99% of the company’s stock.
NVIDIA Trading Up 1.0 %
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 9.46 earnings per share for the current year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 3.86%.
Analyst Ratings Changes
A number of research firms recently weighed in on NVDA. UBS Group boosted their price target on shares of NVIDIA from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Truist Financial boosted their price objective on shares of NVIDIA from $545.00 to $668.00 and gave the company a “buy” rating in a report on Thursday, August 24th. HSBC boosted their price objective on shares of NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a report on Monday, August 21st. Stifel Nicolaus upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and boosted their price objective for the company from $440.00 to $600.00 in a report on Thursday, August 24th. Finally, Daiwa Capital Markets upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $408.00 to $475.00 in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.70.
Check Out Our Latest Report on NVDA
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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