United Services Automobile Association Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

United Services Automobile Association reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 18.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 570,149 shares of the computer hardware maker’s stock after selling 129,571 shares during the period. NVIDIA comprises 1.8% of United Services Automobile Association’s portfolio, making the stock its 14th biggest position. United Services Automobile Association’s holdings in NVIDIA were worth $69,239,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVDA shares. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group upped their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Trading Up 3.1 %

NASDAQ NVDA opened at $137.71 on Friday. The company has a fifty day moving average of $138.99 and a 200 day moving average of $129.00. The company has a market capitalization of $3.37 trillion, a PE ratio of 54.20, a P/E/G ratio of 2.45 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 $56.11 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s 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 owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA 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.