Rice Hall James & Associates LLC Sells 733 Shares of NVIDIA Co. (NASDAQ:NVDA)

Rice Hall James & Associates LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,182 shares of the computer hardware maker’s stock after selling 733 shares during the period. Rice Hall James & Associates LLC’s holdings in NVIDIA were worth $2,087,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. boosted its position in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares during the period. Truepoint Inc. boosted its position in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the period. Narwhal Capital Management boosted its position in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares during the period. Finally, Legal & General Group Plc increased its position in shares of 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock valued at $197,995,077 in the last quarter. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 2.2 %

NVDA stock opened at $134.25 on Friday. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. The business has a 50 day simple moving average of $139.76 and a two-hundred day simple moving average of $126.60.

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

NVIDIA Announces Dividend

The company 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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

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.