AA Financial Advisors LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

AA Financial Advisors LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 27,620 shares of the computer hardware maker’s stock after selling 900 shares during the period. AA Financial Advisors LLC’s holdings in NVIDIA were worth $3,354,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. University of Texas Texas AM Investment Management Co. raised its holdings in shares of NVIDIA by 897.5% in 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 during the period. Truepoint Inc. raised its holdings 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 buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its position in NVIDIA by 683.9% during 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 buying an additional 208,362 shares in the last quarter. Legal & General Group Plc grew its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd increased its position in shares of 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 worth $65,758,000 after acquiring an additional 488,148 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 4.2 %

Shares of NVIDIA stock opened at $136.02 on Tuesday. The business has a fifty day simple moving average of $134.39 and a 200-day simple moving average of $122.84. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. 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 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVDA. Piper Sandler lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.