McGuire Investment Group LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

McGuire Investment Group LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,687 shares of the computer hardware maker’s stock after selling 10,399 shares during the period. NVIDIA accounts for 6.6% of McGuire Investment Group LLC’s portfolio, making the stock its largest position. McGuire Investment Group LLC’s holdings in NVIDIA were worth $47,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. JBR Co Financial Management Inc lifted its position in NVIDIA by 1.6% during the third quarter. JBR Co Financial Management Inc now owns 197,534 shares of the computer hardware maker’s stock valued at $23,988,000 after buying an additional 3,180 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in NVIDIA by 990.3% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 30,398 shares of the computer hardware maker’s stock valued at $3,692,000 after buying an additional 27,610 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in NVIDIA by 3.4% during the third quarter. Koshinski Asset Management Inc. now owns 115,257 shares of the computer hardware maker’s stock valued at $13,997,000 after buying an additional 3,800 shares during the last quarter. Johnson Bixby & Associates LLC grew its stake in shares of NVIDIA by 10.2% in the third quarter. Johnson Bixby & Associates LLC now owns 9,819 shares of the computer hardware maker’s stock worth $1,192,000 after acquiring an additional 909 shares during the last quarter. Finally, Factory Mutual Insurance Co. increased its holdings in shares of NVIDIA by 2.8% during the third quarter. Factory Mutual Insurance Co. now owns 3,106,048 shares of the computer hardware maker’s stock valued at $377,198,000 after acquiring an additional 85,048 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on NVDA shares. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. HSBC lifted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group raised their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Mizuho boosted their price target on NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Down 3.3 %

NASDAQ:NVDA opened at $141.98 on Friday. The stock has a fifty day simple moving average of $130.18 and a 200-day simple moving average of $119.70. 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 $3.48 trillion, a price-to-earnings ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted 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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 122.4% on a year-over-year basis. Analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is owned by company insiders.

NVIDIA Company 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.