NVIDIA Co. (NASDAQ:NVDA) is Crew Capital Management Ltd.'s 9th Largest Position

Crew Capital Management Ltd. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 795.7% in Q2, making it the 9th largest position in their portfolio. The firm now holds 28,216 shares valued at $4,486,000. Other institutional investors, including Bank of New York Mellon and Baillie Gifford, also significantly increased their holdings in NVIDIA. The stock is currently down 1.9%, with a market cap of $1.79 trillion and a PE ratio of 66.30. NVIDIA recently announced a stock buyback program and declared a quarterly dividend.

Crew Capital Management Ltd. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 795.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,216 shares of the computer hardware maker's stock after purchasing an additional 25,066 shares during the quarter. NVIDIA makes up about 2.8% of Crew Capital Management Ltd.'s portfolio, making the stock its 9th biggest holding. Crew Capital Management Ltd.'s holdings in NVIDIA were worth $3,486,000 at the end of the most recent reporting period.

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Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 163,482,580 shares during the period. Baillie Gifford & Co. grew its stake in NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker's stock valued at $10,137,521,000 after acquiring an additional 71,757,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in NVIDIA by 829.0% in 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 acquiring an additional 57,160,191 shares during the period. Swedbank AB boosted its stake in NVIDIA by 798.8% during the 2nd 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 during the last quarter. Finally, Norges Bank acquired a new stake in NVIDIA during the 4th quarter worth $14,606,369,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.9 %

NASDAQ NVDA opened at $113.37 on Thursday. The business has a fifty day moving average price of $116.45 and a two-hundred day moving average price of $106.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The stock has a market capitalization of $2.79 trillion, a PE ratio of 66.30, a PEG ratio of 1.06 and a beta of 1.67.

What the Bulls and Bears Are Saying About NVIDIA Stock

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts' expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. NVIDIA's revenue was up 122.4% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.64 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

Brace for the Perfect Storm: Rate Cuts and a Slow September

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

Insiders Place Their Bets

In other NVIDIA news, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $128.17, for a total value of $576,765.00. Following the transaction, the insider now owns 503,878 shares of the company's stock, valued at approximately $64,582,043.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 100,110 shares of the firm's stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the completion of the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,725,633 shares of company stock worth $449,025,722. Company insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of NVIDIA from $1,200.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday, June 10th. TD Cowen raised shares of NVIDIA to a "strong-buy" rating in a research report on Monday. Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Benchmark reissued a "buy" rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. 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 stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.10.

View Our Latest Report on NVIDIA

NVIDIA Profile

(Free Report)

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.

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