NVIDIA Co. (NASDAQ:NVDA) Position Reduced by MayTech Global Investments LLC

MayTech Global Investments LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,205,994 shares of the computer hardware maker’s stock after selling 9,478 shares during the quarter. NVIDIA accounts for approximately 19.3% of MayTech Global Investments LLC’s holdings, making the stock its biggest holding. MayTech Global Investments LLC’s holdings in NVIDIA were worth $146,456,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Barclays boosted their price target on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Melius Research raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, HSBC boosted their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

NVDA stock opened at $135.91 on Monday. The company has a market capitalization of $3.33 trillion, a P/E ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. 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 50-day simple moving average of $139.90 and a 200 day simple moving average of $128.70. NVIDIA Co. has a fifty-two week low of $53.56 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by company 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.