BluePath Capital Management LLC Sells 506 Shares of NVIDIA Co. (NASDAQ:NVDA)

BluePath Capital Management LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,885 shares of the computer hardware maker’s stock after selling 506 shares during the quarter. NVIDIA makes up about 1.8% of BluePath Capital Management LLC’s investment portfolio, making the stock its 11th largest position. BluePath Capital Management LLC’s holdings in NVIDIA were worth $2,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter worth $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of NVIDIA during the second quarter worth $31,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $134.25 on Friday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The firm has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. 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 stock’s 50-day moving average is $139.76 and its 200-day moving average is $126.69.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. Equities analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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 issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA announced that its board has initiated a stock repurchase plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on NVDA. DA Davidson lifted their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus lifted their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Corporate insiders own 4.23% of the company’s stock.

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.