Burney Co. Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Burney Co. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 439.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,627 shares of the computer hardware maker’s stock after acquiring an additional 18,431 shares during the period. Burney Co.’s holdings in NVIDIA were worth $9,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in NVIDIA by 84,165.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock valued at $587,904,569,000 after buying an additional 1,388,130,327 shares during the period. Geode Capital Management LLC boosted its position in NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after buying an additional 267,061 shares during the period. Morgan Stanley boosted its position in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the period. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at about $3,900,874,000. Finally, Bank of New York Mellon Corp boosted its position in NVIDIA by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock valued at $6,028,280,000 after buying an additional 322,662 shares during the period. 64.79% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 2.3 %

Shares of NVDA stock opened at $504.09 on Tuesday. NVIDIA Co. has a 12-month low of $138.84 and a 12-month high of $505.48. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $445.22 and its 200 day moving average is $425.77. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 121.76, a P/E/G ratio of 3.80 and a beta of 1.69.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 9.66 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

Analyst Ratings Changes

Several analysts have issued reports on NVDA shares. Barclays upped their price target on shares of NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NVIDIA from $440.00 to $560.00 and gave the company a “hold” rating in a research note on Thursday, August 24th. StockNews.com initiated coverage on shares of NVIDIA in a research note on Thursday, October 5th. They set a “hold” rating for the company. KeyCorp lowered their price objective on shares of NVIDIA from $750.00 to $650.00 and set an “overweight” rating for the company in a research note on Friday, October 20th. Finally, Oppenheimer upped their price objective on shares of NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $571.49.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the transaction, the chief financial officer now owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now owns 499,428 shares in the company, valued at $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 in the last 90 days. 3.99% of the stock is currently owned by insiders.

About NVIDIA

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.