NVIDIA Co. (NASDAQ:NVDA) Stock Position Lessened by Rockingstone Advisors LLC

Rockingstone Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,505 shares of the computer hardware maker’s stock after selling 9,125 shares during the period. NVIDIA accounts for approximately 4.5% of Rockingstone Advisors LLC’s portfolio, making the stock its 2nd largest holding. Rockingstone Advisors LLC’s holdings in NVIDIA were worth $9,169,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. increased its stake in NVIDIA by 897.5% in the second 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 acquiring an additional 107,169 shares during the last quarter. Truepoint Inc. increased its stake in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Legal & General Group Plc increased its stake in NVIDIA by 884.0% in the second 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 acquiring an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in NVIDIA by 1,106.0% in the second 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 acquiring an additional 488,148 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. 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 NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. 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. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents 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 valued at $254,784,327 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $147.63 on Friday. The firm has a 50 day moving average price of $127.27 and a 200-day moving average price of $117.94. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The firm has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. 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 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. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently declared 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. 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 dividend payout ratio (DPR) is currently 1.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Craig Hallum raised their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. HSBC raised their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company raised their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Mizuho raised their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target 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.