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

Cypress Capital Group lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,975 shares of the computer hardware maker’s stock after selling 4,025 shares during the period. NVIDIA comprises approximately 1.8% of Cypress Capital Group’s investment portfolio, making the stock its 10th largest holding. Cypress Capital Group’s holdings in NVIDIA were worth $15,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Lantz Financial LLC grew its position in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares during the period. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the period. Hobbs Group Advisors LLC acquired a new position in NVIDIA during the second quarter worth $1,252,000. Focus Financial Network Inc. lifted its holdings in NVIDIA by 1,026.3% during the second quarter. Focus Financial Network Inc. now owns 1,812,060 shares of the computer hardware maker’s stock valued at $213,805,000 after purchasing an additional 1,651,175 shares in the last quarter. Finally, Horizons Wealth Management grew its position in shares of NVIDIA by 842.9% in the second quarter. Horizons Wealth Management now owns 1,320 shares of the computer hardware maker’s stock valued at $156,000 after purchasing an additional 1,180 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVDA shares. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Benchmark boosted their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. 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. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $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 available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock valued at $161,499,400 over the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.4 %

Shares of NVIDIA stock opened at $149.43 on Tuesday. The business has a 50 day moving average price of $139.75 and a 200 day moving average price of $128.28. The company has a market capitalization of $3.66 trillion, a P/E ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $49.48 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.