Callahan Advisors LLC increases stake in NVIDIA Co. (NASDAQ:NVDA)

Callahan Advisors LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1,247.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,840 shares of the computer hardware maker’s stock after buying an additional 85,951 shares during the period. NVIDIA makes up 1.2% of Callahan Advisors LLC’s portfolio, making the stock its 28th largest holding. Callahan Advisors LLC’s holdings in NVIDIA were worth $11,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Baillie Gifford & Co. raised its position in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in NVIDIA by 829.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock worth $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Swedbank AB boosted its holdings in NVIDIA by 798.8% in the second quarter. Swedbank AB now owns 39,020,364 shares of the computer hardware maker’s stock worth $4,820,576,000 after purchasing an additional 34,678,944 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in NVIDIA by 858.4% in the second quarter. Principal Financial Group Inc. now owns 34,341,377 shares of the computer hardware maker’s stock worth $4,242,534,000 after buying an additional 30,758,341 shares during the period. 65.27% of shares are currently owned by institutional investors.

Indoor activity

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The disclosure for this sale can be found here. Insiders sold 4,472,303 shares of company stock worth $536,731,507 over the last three months. 4.23% of shares are currently held by corporate insiders.

The Wall Street analyst weighs in

NVDA has been the subject of several research analyst reports. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC boosted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Benchmark reissued a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Moderate Buy” and an average target price of $142.10, according to MarketBeat.

Get our latest analysis on NVIDIA

NVIDIA trading up 0.2%

Shares of NASDAQ:NVDA opened at $116.26 on Tuesday. The company has a market cap of $2.86 trillion, a PE ratio of 67.99, a PEG ratio of 1.06 and a beta of 1.67. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company has a 50 day moving average of $115.75 and a two hundred day moving average of $107.41. The company has a current ratio of 4.27, a quick ratio of 3.79, and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA – Get Your Free Report ) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. In the same quarter last year, the company earned $0.25 per share. The company’s revenue for the quarter was up 122.4% year over year. As a group, analysts estimate that NVIDIA Co. will post 2.64 EPS for the current year.

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

NVIDIA cuts dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents an annualized dividend of $0.04 and a yield of 0.03%. The ex-dividend date is Thursday, September 12. NVIDIA’s payout ratio is currently 2.34%.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics and computing 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 graphics workstations; 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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