Covestor Ltd Sells 372 Shares of NVIDIA Co. (NASDAQ:NVDA)

Covestor Ltd lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,429 shares of the computer hardware maker’s stock after selling 372 shares during the period. NVIDIA comprises about 1.3% of Covestor Ltd’s portfolio, making the stock its biggest holding. Covestor Ltd’s holdings in NVIDIA were worth $2,116,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Up 0.4 %

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

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm 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 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 (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of research firms have commented on NVDA. DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four research 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’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.