NVIDIA Co. (NASDAQ:NVDA) Stake Decreased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,323,488 shares of the computer hardware maker’s stock after selling 81,038 shares during the quarter. NVIDIA accounts for approximately 6.7% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 3rd largest holding. Bank Pictet & Cie Europe AG’s holdings in NVIDIA were worth $282,164,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of NVIDIA by 3.7% during the first quarter. Bahl & Gaynor Inc. now owns 4,573 shares of the computer hardware maker’s stock valued at $4,132,000 after acquiring an additional 163 shares during the last quarter. Spreng Capital Management Inc. boosted its holdings in NVIDIA by 19.6% in the first quarter. Spreng Capital Management Inc. now owns 4,932 shares of the computer hardware maker’s stock valued at $4,456,000 after acquiring an additional 807 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of NVIDIA by 6.2% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 47,395 shares of the computer hardware maker’s stock valued at $42,824,000 after purchasing an additional 2,765 shares in the last quarter. Finally, PAX Financial Group LLC raised its stake in NVIDIA by 3.6% in the first quarter. PAX Financial Group LLC now owns 1,289 shares of the computer hardware maker’s stock worth $1,165,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’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 $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $138.25 on Friday. The company has a market cap of $3.39 trillion, a P/E ratio of 54.41, a P/E/G ratio of 2.45 and a beta of 1.66. The firm’s fifty day moving average is $136.05 and its two-hundred day moving average is $123.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share repurchase program 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend 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 is 1.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. New Street Research upgraded shares of 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. Mizuho upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

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.