Wolff Wiese Magana LLC Has $6.66 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wolff Wiese Magana LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,831 shares of the computer hardware maker’s stock after selling 6,115 shares during the quarter. NVIDIA makes up about 4.6% of Wolff Wiese Magana LLC’s holdings, making the stock its largest position. Wolff Wiese Magana LLC’s holdings in NVIDIA were worth $6,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NVDA. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% during the 2nd 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 purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. increased its position 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 valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of NVIDIA by 683.9% in 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 in the last quarter. Legal & General Group Plc boosted its position in shares of 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 period. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in 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 valued at $65,758,000 after acquiring an additional 488,148 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.8 %

NASDAQ:NVDA opened at $145.89 on Thursday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company has a market capitalization of $3.58 trillion, a PE ratio of 68.49, a P/E/G ratio of 1.49 and a beta of 1.66. The firm’s 50-day moving average price is $133.00 and its 200-day moving average price is $121.54. 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 (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Wells Fargo & Company boosted their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Melius Research upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $154.63.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were 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 of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

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.