Lakewood Asset Management LLC Sells 190 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lakewood Asset Management LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,331 shares of the computer hardware maker’s stock after selling 190 shares during the quarter. Lakewood Asset Management LLC’s holdings in NVIDIA were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Privium Fund Management UK Ltd purchased a new position in NVIDIA during the first quarter valued at approximately $2,635,000. Monument Capital Management boosted its stake in NVIDIA by 1.8% in the first quarter. Monument Capital Management now owns 1,853 shares of the computer hardware maker’s stock valued at $1,674,000 after acquiring an additional 33 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in NVIDIA by 6.0% in the first quarter. Sivia Capital Partners LLC now owns 6,605 shares of the computer hardware maker’s stock valued at $5,968,000 after acquiring an additional 372 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in NVIDIA by 40.1% in the first quarter. Tradewinds Capital Management LLC now owns 937 shares of the computer hardware maker’s stock valued at $847,000 after acquiring an additional 268 shares in the last quarter. Finally, Carret Asset Management LLC lifted its stake in shares of NVIDIA by 6.9% during the first quarter. Carret Asset Management LLC now owns 4,928 shares of the computer hardware maker’s stock worth $4,453,000 after buying an additional 320 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVDA shares. Mizuho raised their target price on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird increased their price target on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,276,270 shares of company stock valued at $267,363,927 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 4.1 %

NASDAQ NVDA opened at $145.61 on Thursday. 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 one year low of $45.01 and a one year high of $146.49. The business has a 50 day simple moving average of $126.08 and a 200 day simple moving average of $117.25. The stock has a market capitalization of $3.57 trillion, a P/E ratio of 68.36, a P/E/G ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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. 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 previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts expect that NVIDIA Co. will post 2.66 earnings per share 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 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

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

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.