NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Prospect Financial Services LLC

Prospect Financial Services LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 53,161 shares of the computer hardware maker’s stock after selling 1,247 shares during the period. NVIDIA accounts for approximately 4.0% of Prospect Financial Services LLC’s portfolio, making the stock its 3rd largest position. Prospect Financial Services LLC’s holdings in NVIDIA were worth $6,456,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Legal & General Group Plc increased its position in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its stake in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer increased their target price on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.40.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % 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 worth $254,784,327 over the last ninety days. 4.23% of the stock is owned by company insiders.

NVIDIA Trading Down 1.3 %

NVDA stock opened at $140.15 on Tuesday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a PEG ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $131.64 and a 200-day simple moving average of $120.96.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.