NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Transcendent Capital Group LLC

Transcendent Capital Group LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,656 shares of the computer hardware maker’s stock after selling 589 shares during the period. NVIDIA accounts for about 1.2% of Transcendent Capital Group LLC’s holdings, making the stock its 27th biggest position. Transcendent Capital Group LLC’s holdings in NVIDIA were worth $2,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. lifted its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares during the period. Truepoint Inc. increased its stake in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the period. Blue Square Asset Management LLC boosted its position in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management boosted its holdings in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVDA. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Truist Financial lifted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Susquehanna raised their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Up 0.4 %

NVIDIA stock opened at $140.22 on Thursday. 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 company has a 50-day simple moving average of $139.84 and a 200-day simple moving average of $127.62. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its 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 net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. 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 payout ratio is currently 1.57%.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,391,886 shares of company stock valued at $181,666,050. 4.23% of the stock is owned by insiders.

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.