Lwmg LLC Has $2.04 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Lwmg LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,781 shares of the computer hardware maker’s stock after selling 1,963 shares during the quarter. NVIDIA comprises 0.4% of Lwmg LLC’s investment portfolio, making the stock its 24th largest holding. Lwmg LLC’s holdings in NVIDIA were worth $2,038,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Privium Fund Management UK Ltd acquired a new position in NVIDIA in the 1st quarter valued at approximately $2,635,000. Financial Strategies Group Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $268,000. Woodmont Investment Counsel LLC increased its position in shares of NVIDIA by 1.8% during the first quarter. Woodmont Investment Counsel LLC now owns 1,498 shares of the computer hardware maker’s stock valued at $1,354,000 after purchasing an additional 27 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of NVIDIA by 1.6% in the first quarter. Capital Advisors Ltd. LLC now owns 1,603 shares of the computer hardware maker’s stock valued at $1,448,000 after purchasing an additional 26 shares in the last quarter. Finally, Dash Acquisitions Inc. lifted its position in NVIDIA by 10.2% in the first quarter. Dash Acquisitions Inc. now owns 1,124 shares of the computer hardware maker’s stock worth $945,000 after purchasing an additional 104 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. KeyCorp increased their price objective on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Mizuho boosted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,276,270 shares of company stock worth $267,363,927. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 2.8 %

Shares of NASDAQ NVDA opened at $139.91 on Wednesday. The company’s 50 day simple moving average is $125.68 and its 200 day simple moving average is $117.05. NVIDIA Co. has a fifty-two week low of $44.90 and a fifty-two week high of $144.42. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 65.62, a P/E/G ratio of 1.43 and a beta of 1.66. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.