Lynch & Associates IN Buys 5,876 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lynch & Associates IN raised its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1,038.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,442 shares of the computer hardware maker's stock after buying an additional 5,876 shares during the quarter. Lynch & Associates IN's holdings in NVIDIA were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of NVIDIA by 696.6% in 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 acquiring an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of NVIDIA by 829.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker's stock valued at $7,913,435,000 after purchasing an additional 57,160,191 shares in the last quarter. Rhumbline Advisers increased its stake in NVIDIA by 892.0% during the 2nd quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker's stock worth $5,773,914,000 after purchasing an additional 42,025,613 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of NVIDIA by 741.8% in the second quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker's stock valued at $4,942,652,000 after buying an additional 35,255,679 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.3 %

Shares of NVIDIA stock traded up $0.34 during trading on Thursday, reaching $132.99. 25,643,347 shares of the company traded hands, compared to its average volume of 422,611,625. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.27 trillion, a PE ratio of 77.57, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a 50 day moving average price of $117.48 and a 200-day moving average price of $110.17. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm's revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, equities research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 2.34%.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 100,110 shares of NVIDIA stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the sale, the executive vice president now owns 3,939,350 shares of the company's stock, valued at approximately $512,509,435. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company's stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the sale, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,577,403 shares of company stock worth $420,166,534 over the last three months. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. Wedbush reaffirmed an "outperform" rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Bank of America reaffirmed a "buy" rating and set a $165.00 target price on shares of NVIDIA in a report on Thursday, September 5th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.10.

About NVIDIA

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.