Lmcg Investments LLC Has $28.57 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Lmcg Investments LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,288 shares of the computer hardware maker’s stock after selling 346 shares during the period. NVIDIA comprises about 1.7% of Lmcg Investments LLC’s portfolio, making the stock its 9th largest holding. Lmcg Investments LLC’s holdings in NVIDIA were worth $28,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Private Management Group Inc. lifted its holdings in NVIDIA by 1.6% in the third quarter. Private Management Group Inc. now owns 9,331 shares of the computer hardware maker’s stock worth $1,133,000 after purchasing an additional 145 shares during the period. Key Financial Inc raised its position in NVIDIA by 1.3% in the third quarter. Key Financial Inc now owns 31,310 shares of the computer hardware maker’s stock worth $3,802,000 after acquiring an additional 400 shares in the last quarter. AM Investment Strategies LLC raised its position in NVIDIA by 24.5% in the third quarter. AM Investment Strategies LLC now owns 32,894 shares of the computer hardware maker’s stock worth $4,006,000 after acquiring an additional 6,483 shares in the last quarter. swisspartners Advisors Ltd bought a new stake in NVIDIA in the third quarter worth about $213,000. Finally, Visionary Horizons LLC raised its position in NVIDIA by 18.1% in the third quarter. Visionary Horizons LLC now owns 9,659 shares of the computer hardware maker’s stock worth $1,173,000 after acquiring an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 2.2 %

NVIDIA stock opened at $134.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business’s 50-day simple moving average is $139.76 and its two-hundred day simple moving average is $126.77. The company has a market cap of $3.29 trillion, a PE ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

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

NVIDIA announced that its board has authorized a share buyback 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on NVDA shares. TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Sanford C. Bernstein boosted their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Finally, Melius Research upped their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.15.

About NVIDIA

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.