Creekside Partners Makes New $1.98 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Creekside Partners acquired a new stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,047 shares of the computer hardware maker's stock, valued at approximately $1,982,000. NVIDIA comprises approximately 1.1% of Creekside Partners' investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Hamilton Wealth LLC raised its stake in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock valued at $2,839,000 after buying an additional 9 shares during the period. Curran Financial Partners LLC lifted its holdings in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock valued at $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC boosted its position in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker's stock worth $428,000 after purchasing an additional 12 shares during the period. Poehling Capital Management INC. increased its stake in shares of NVIDIA by 0.9% in the first quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker's stock worth $1,442,000 after purchasing an additional 14 shares in the last quarter. Finally, FSA Wealth Management LLC raised its position in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker's stock valued at $439,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NVDA shares. Loop Capital reaffirmed a "buy" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Bank of America raised their price target on NVIDIA from $165.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Benchmark reiterated a "buy" rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on NVIDIA from $115.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, August 29th. Finally, Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the company an "outperform" rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.07.

NVIDIA Trading Up 2.0 %

Shares of NVDA stock traded up $2.64 during mid-day trading on Friday, reaching $135.40. The stock had a trading volume of 207,127,838 shares, compared to its average volume of 241,382,352. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average price is $125.25 and its two-hundred day moving average price is $116.24. The firm has a market capitalization of $3.32 trillion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 52-week low of $42.89 and a 52-week high of $144.42.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA's quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. Equities analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA's dividend payout ratio (DPR) is currently 1.88%.

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now owns 76,854,995 shares of the company's stock, valued at approximately $7,981,391,230.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,516,270 shares of company stock valued at $291,803,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Profile

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.