NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,396,210 shares of the computer hardware maker’s stock after selling 722,486 shares during the period. NVIDIA accounts for approximately 4.4% of Artemis Investment Management LLP’s portfolio, making the stock its 2nd largest position. Artemis Investment Management LLP’s holdings in NVIDIA were worth $290,996,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. boosted its stake in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. boosted its stake in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the period. Legal & General Group Plc boosted its stake in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd boosted its stake in shares of NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after buying an additional 488,148 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 completion of the transaction, the director now directly 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 filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. UBS Group reiterated a “buy” rating and set a $150.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Performance

Shares of NVDA stock opened at $147.63 on Friday. The company’s fifty day simple moving average is $127.27 and its 200-day simple moving average is $117.94. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.62 trillion, a PE ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

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

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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

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.