Martingale Asset Management L P Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Martingale Asset Management L P trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 40.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,957 shares of the computer hardware maker’s stock after selling 67,696 shares during the period. Martingale Asset Management L P’s holdings in NVIDIA were worth $12,017,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Ironwood Wealth Management LLC. boosted its holdings in NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. boosted its holdings in NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after purchasing an additional 3,240 shares in the last quarter. Planning Alternatives Ltd. ADV acquired a new position in NVIDIA in the second quarter valued at approximately $215,000. Kanawha Capital Management LLC boosted its holdings in NVIDIA by 1,142.7% in the second quarter. Kanawha Capital Management LLC now owns 23,065 shares of the computer hardware maker’s stock valued at $2,849,000 after purchasing an additional 21,209 shares in the last quarter. Finally, Cape ANN Savings Bank boosted its holdings in NVIDIA by 1,917.7% in the second quarter. Cape ANN Savings Bank now owns 13,680 shares of the computer hardware maker’s stock valued at $1,690,000 after purchasing an additional 13,002 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.0 %

Shares of NASDAQ NVDA opened at $133.23 on Tuesday. NVIDIA Co. has a one year low of $54.74 and a one year high of $153.13. The firm has a market capitalization of $3.26 trillion, a PE ratio of 52.43, a PEG ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $139.84 and a two-hundred day moving average price of $128.76.

NVIDIA (NASDAQ:NVDA) last announced 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 analyst estimates of $33.15 billion. During the same period last year, the company posted $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % 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 in the last three months. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler increased their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. UBS Group increased their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

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.