Riverwater Partners LLC Sells 938 Shares of NVIDIA Co. (NASDAQ:NVDA)

Riverwater Partners LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,028 shares of the computer hardware maker’s stock after selling 938 shares during the period. Riverwater Partners LLC’s holdings in NVIDIA were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 0.3 %

NVIDIA stock opened at $138.63 on Tuesday. The firm has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 54.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.66. The firm’s fifty day moving average price is $136.05 and its two-hundred day moving average price is $124.11. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. 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 (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 payout ratio is 1.57%.

NVIDIA declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the transaction, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at $8,180,034,219.84. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’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 sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 1,916,986 shares of company stock worth $227,311,199. 4.23% of the stock is 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.