NVIDIA Co. (NASDAQ:NVDA) Stock Position Decreased by Malaga Cove Capital LLC

Malaga Cove Capital LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,784 shares of the computer hardware maker’s stock after selling 6,005 shares during the quarter. NVIDIA comprises 1.3% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 23rd largest holding. Malaga Cove Capital LLC’s holdings in NVIDIA were worth $3,131,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter worth about $26,000. Quest Partners LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the second quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. grew its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $134.70 on Friday. The firm has a market cap of $3.30 trillion, a P/E ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The firm’s 50 day moving average price is $139.63 and its two-hundred day moving average price is $127.32. 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, 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its board has approved 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC raised their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Benchmark upped their price target on NVIDIA from $170.00 to $190.00 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.15.

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.