17 Capital Partners LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

17 Capital Partners LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,387 shares of the computer hardware maker’s stock after selling 743 shares during the period. NVIDIA makes up about 1.0% of 17 Capital Partners LLC’s portfolio, making the stock its 27th biggest holding. 17 Capital Partners LLC’s holdings in NVIDIA were worth $1,504,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Lantz Financial LLC grew its position in NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares during the last quarter. James Hambro & Partners lifted its stake in shares of NVIDIA by 657.7% during the second quarter. James Hambro & Partners now owns 6,880 shares of the computer hardware maker’s stock worth $849,000 after buying an additional 5,972 shares during the period. Border to Coast Pensions Partnership Ltd grew its holdings in shares of NVIDIA by 723.0% during the second quarter. Border to Coast Pensions Partnership Ltd now owns 2,331,118 shares of the computer hardware maker’s stock valued at $288,077,000 after buying an additional 2,047,881 shares during the last quarter. SJS Investment Consulting Inc. increased its position in shares of NVIDIA by 714.4% in the 2nd quarter. SJS Investment Consulting Inc. now owns 49,980 shares of the computer hardware maker’s stock valued at $6,175,000 after acquiring an additional 43,843 shares during the period. Finally, Consolidated Capital Management LLC raised its stake in NVIDIA by 972.3% in the 2nd quarter. Consolidated Capital Management LLC now owns 94,298 shares of the computer hardware maker’s stock worth $11,650,000 after acquiring an additional 85,504 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $140.22 on Thursday. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a 50-day simple moving average of $139.84 and a 200-day simple moving average of $127.62.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on NVDA. Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. HSBC increased their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is currently owned by insiders.

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.