Ruedi Wealth Management Inc. Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Ruedi Wealth Management Inc. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 31.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 890 shares of the computer hardware maker’s stock after selling 410 shares during the quarter. Ruedi Wealth Management Inc.’s holdings in NVIDIA were worth $108,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in 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 purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp lifted its position in shares of NVIDIA by 854.1% during the 2nd 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 buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew 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 valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $138.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.39 trillion, a P/E ratio of 54.43, a P/E/G ratio of 2.50 and a beta of 1.66. The firm’s 50 day moving average price is $136.05 and its 200-day moving average price is $124.11. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid 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 payout ratio is currently 1.57%.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,036,986 shares of company stock valued at $240,602,399 in the last ninety days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NVDA shares. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Benchmark boosted their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. 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 research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.