NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Ulland Investment Advisors LLC

Ulland Investment Advisors LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,219 shares of the computer hardware maker’s stock after selling 1,137 shares during the period. NVIDIA accounts for about 9.7% of Ulland Investment Advisors LLC’s investment portfolio, making the stock its largest position. Ulland Investment Advisors LLC’s holdings in NVIDIA were worth $13,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. China Universal Asset Management Co. Ltd. raised its holdings in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Etfidea LLC purchased a new stake in shares of NVIDIA in the first quarter valued at $493,000. Westchester Capital Management Inc. grew its position in shares of NVIDIA by 18.9% in the first quarter. Westchester Capital Management Inc. now owns 314 shares of the computer hardware maker’s stock valued at $284,000 after purchasing an additional 50 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in NVIDIA by 11.6% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,996 shares of the computer hardware maker’s stock valued at $1,804,000 after purchasing an additional 207 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in NVIDIA by 4.0% during the first quarter. Larson Financial Group LLC now owns 14,775 shares of the computer hardware maker’s stock worth $13,350,000 after buying an additional 570 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $141.98 on Monday. 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 12-month low of $45.01 and a 12-month high of $149.77. The business’s fifty day moving average price is $130.97 and its 200 day moving average price is $120.58. The stock has a market capitalization of $3.48 trillion, a PE ratio of 66.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding 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 usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. Evercore ISI boosted their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America upped their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.40.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

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.