Wright Investors Service Inc. Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Wright Investors Service Inc. reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,597 shares of the computer hardware maker’s stock after selling 18,545 shares during the quarter. NVIDIA accounts for about 3.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 4th largest holding. Wright Investors Service Inc.’s holdings in NVIDIA were worth $11,974,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NVDA. Ridgewood Investments LLC lifted its stake in NVIDIA by 23.6% in the third quarter. Ridgewood Investments LLC now owns 9,367 shares of the computer hardware maker’s stock valued at $1,138,000 after buying an additional 1,787 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in shares of NVIDIA by 4.7% during the third quarter. Cullen Investment Group LTD. now owns 111,764 shares of the computer hardware maker’s stock worth $13,573,000 after acquiring an additional 5,044 shares during the period. Burns J W & Co. Inc. NY boosted its stake in NVIDIA by 9.4% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 116,013 shares of the computer hardware maker’s stock worth $14,077,000 after purchasing an additional 9,969 shares during the period. Trivant Custom Portfolio Group LLC increased its holdings in NVIDIA by 0.6% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 75,251 shares of the computer hardware maker’s stock worth $9,138,000 after purchasing an additional 421 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC raised its stake in shares of NVIDIA by 9.4% in the 3rd quarter. Inspirion Wealth Advisors LLC now owns 9,625 shares of the computer hardware maker’s stock valued at $1,169,000 after purchasing an additional 829 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,276,270 shares of company stock valued at $267,363,927. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $139.91 on Wednesday. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 65.62, a PEG ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a 52-week low of $44.90 and a 52-week high of $144.42. The stock’s 50 day moving average price is $125.68 and its two-hundred day moving average price is $117.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its 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 business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVDA. Truist Financial lifted their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a report on Thursday, August 29th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.