Mayport LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 69.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,833 shares of the computer hardware maker’s stock after purchasing an additional 752 shares during the quarter. Mayport LLC’s holdings in NVIDIA were worth $775,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. PAX Financial Group LLC raised its stake in NVIDIA by 4.5% in the second quarter. PAX Financial Group LLC now owns 1,156 shares of the computer hardware maker’s stock valued at $489,000 after buying an additional 50 shares during the last quarter. IFG Advisors LLC raised its stake in NVIDIA by 6.4% in the second quarter. IFG Advisors LLC now owns 2,339 shares of the computer hardware maker’s stock valued at $990,000 after buying an additional 140 shares during the last quarter. Members Trust Co purchased a new stake in NVIDIA in the second quarter valued at about $3,774,000. Matrix Asset Advisors Inc. NY purchased a new stake in NVIDIA in the second quarter valued at about $242,000. Finally, TFB Advisors LLC raised its stake in NVIDIA by 235.9% in the second quarter. TFB Advisors LLC now owns 6,244 shares of the computer hardware maker’s stock valued at $2,641,000 after buying an additional 4,385 shares during the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the sale, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the sale, the chief executive officer now owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is owned by corporate insiders.
NVIDIA Stock Performance
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 101.5% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 9.46 EPS for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a dividend of $0.04 per share. The ex-dividend date of this dividend 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%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on NVDA shares. Mizuho raised their price objective on NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Rosenblatt Securities restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, September 20th. TD Cowen raised their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Wedbush raised their price objective on NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Finally, Tigress Financial raised their price objective on NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $558.95.
Check Out Our Latest Stock Report on NVIDIA
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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