NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Werlinich Asset Management LLC

Werlinich Asset Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 228,160 shares of the computer hardware maker’s stock after selling 24,700 shares during the period. NVIDIA accounts for about 16.0% of Werlinich Asset Management LLC’s holdings, making the stock its biggest position. Werlinich Asset Management LLC’s holdings in NVIDIA were worth $27,708,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. lifted its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its stake in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd lifted its stake in shares of NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $147.63 on Friday. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. The business’s 50-day simple moving average is $127.27 and its 200-day simple moving average is $117.94. 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 Co. has a 52 week low of $45.01 and a 52 week high of $149.77.

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, topping 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 for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the firm earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. Wedbush reissued an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Needham & Company LLC boosted their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group reissued a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average 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.