NVIDIA Co. (NASDAQ:NVDA) Shares Sold by HWG Holdings LP

HWG Holdings LP reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 37.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 61,820 shares of the computer hardware maker’s stock after selling 36,543 shares during the quarter. NVIDIA makes up about 2.6% of HWG Holdings LP’s portfolio, making the stock its 10th largest holding. HWG Holdings LP’s holdings in NVIDIA were worth $7,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Legal & General Group Plc increased its position in shares of 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 worth $26,329,751,000 after buying an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its position 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 worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% during the second 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 buying an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVDA. Evercore ISI raised their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Wedbush raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $145.14 on Thursday. The company has a 50 day moving average of $137.32 and a 200 day moving average of $124.90. The stock has a market cap of $3.55 trillion, a P/E ratio of 57.12, a P/E/G ratio of 2.51 and a beta of 1.63. NVIDIA Co. has a 12 month low of $45.27 and a 12 month 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 issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,796,986 shares of company stock worth $214,418,399 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA 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.