Ithaka Group LLC Sells 913 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ithaka Group LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 357,024 shares of the computer hardware maker’s stock after selling 913 shares during the quarter. NVIDIA accounts for about 8.2% of Ithaka Group LLC’s investment portfolio, making the stock its largest position. Ithaka Group LLC’s holdings in NVIDIA were worth $43,357,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Legal & General Group Plc grew its position in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 0.0 %

NASDAQ NVDA opened at $140.11 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 firm has a 50-day simple moving average of $139.74 and a 200 day simple moving average of $128.46. NVIDIA Co. has a twelve month low of $51.69 and a twelve month high of $153.13. The stock has a market cap of $3.43 trillion, a PE ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Wedbush boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Four equities 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. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Company 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.