Great Lakes Retirement Inc. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Great Lakes Retirement Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,804 shares of the computer hardware maker’s stock after selling 28,552 shares during the period. NVIDIA makes up 5.3% of Great Lakes Retirement Inc.’s portfolio, making the stock its 2nd largest holding. Great Lakes Retirement Inc.’s holdings in NVIDIA were worth $41,391,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its holdings in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares during the period. Shell Asset Management Co. raised its stake in NVIDIA by 1.1% in the first quarter. Shell Asset Management Co. now owns 123,527 shares of the computer hardware maker’s stock worth $111,614,000 after buying an additional 1,327 shares in the last quarter. Fayez Sarofim & Co boosted its position in NVIDIA by 16.4% during the 1st quarter. Fayez Sarofim & Co now owns 145,619 shares of the computer hardware maker’s stock valued at $131,576,000 after acquiring an additional 20,467 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of NVIDIA by 30.4% in the 1st quarter. Vident Advisory LLC now owns 67,153 shares of the computer hardware maker’s stock valued at $60,678,000 after acquiring an additional 15,675 shares during the period. Finally, Delap Wealth Advisory LLC raised its position in shares of NVIDIA by 383.6% in the 1st quarter. Delap Wealth Advisory LLC now owns 5,668 shares of the computer hardware maker’s stock worth $5,121,000 after acquiring an additional 4,496 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,916,986 shares of company stock worth $227,311,199. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Benchmark upped their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 0.3 %

NVDA opened at $138.63 on Tuesday. The business’s 50-day simple moving average is $136.05 and its 200-day simple moving average is $124.11. The company has a market cap of $3.40 trillion, a P/E ratio of 54.58, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. 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 (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for 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%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, equities research analysts expect 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 shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently disclosed 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 is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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.