SouthState Corp Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

SouthState Corp lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,369 shares of the computer hardware maker’s stock after selling 6,051 shares during the period. SouthState Corp’s holdings in NVIDIA were worth $2,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in NVIDIA during the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the 2nd quarter worth $31,000. West Financial Advisors LLC bought a new position in NVIDIA in the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NVDA shares. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Mizuho raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 4.5 %

NASDAQ NVDA opened at $144.47 on Monday. The firm has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.51 and a 52 week high of $152.89. 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 company has a fifty day moving average of $139.57 and a two-hundred day moving average of $128.15.

NVIDIA (NASDAQ:NVDA) last issued 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. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated 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 directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s 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 completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $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 sold 1,226,886 shares of company stock worth $161,499,400 over the last three months. 4.23% of the stock is owned by corporate 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.