NVIDIA Co. (NASDAQ:NVDA) is Ferguson Wellman Capital Management Inc.’s 4th Largest Position

Ferguson Wellman Capital Management Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,628,750 shares of the computer hardware maker’s stock after selling 318,365 shares during the period. NVIDIA makes up about 4.2% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 4th largest position. Ferguson Wellman Capital Management Inc.’s holdings in NVIDIA were worth $197,795,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC purchased a new position in NVIDIA during the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 4.2 %

Shares of NASDAQ NVDA opened at $136.02 on Tuesday. The company 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 stock’s 50 day simple moving average is $134.39 and its 200 day simple moving average is $122.84. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities research analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has authorized a stock 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 generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NVDA shares. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Benchmark boosted their price target on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. 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.