NVIDIA Co. (NASDAQ:NVDA) is Winch Advisory Services LLC’s 3rd Largest Position

Winch Advisory Services LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,624 shares of the computer hardware maker’s stock after selling 7,443 shares during the quarter. NVIDIA comprises approximately 7.7% of Winch Advisory Services LLC’s holdings, making the stock its 3rd largest position. Winch Advisory Services LLC’s holdings in NVIDIA were worth $27,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Legal & General Group Plc raised 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVDA. Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday, November 18th. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Down 1.2 %

Shares of NVDA stock opened at $135.34 on Friday. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s fifty day moving average price is $135.61 and its 200-day moving average price is $123.34. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,036,986 shares of company stock valued at $240,602,399 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.