Hardman Johnston Global Advisors LLC Has $84.48 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hardman Johnston Global Advisors LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,676 shares of the computer hardware maker’s stock after selling 34,042 shares during the quarter. NVIDIA accounts for approximately 3.3% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 6th largest position. Hardman Johnston Global Advisors LLC’s holdings in NVIDIA were worth $84,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter worth about $27,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter valued at approximately $31,000. Finally, Gleason Group Inc. raised its position in NVIDIA by 900.0% in the second quarter. Gleason Group Inc. now owns 280 shares of the computer hardware maker’s stock worth $35,000 after acquiring an additional 252 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $130.68 on Friday. The business’s 50 day moving average price is $139.63 and its 200-day moving average price is $127.11. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a market cap of $3.20 trillion, a P/E ratio of 51.43, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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 given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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.