Neo Ivy Capital Management Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Neo Ivy Capital Management decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 39.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,486 shares of the computer hardware maker’s stock after selling 21,446 shares during the quarter. NVIDIA makes up approximately 1.3% of Neo Ivy Capital Management’s portfolio, making the stock its largest holding. Neo Ivy Capital Management’s holdings in NVIDIA were worth $3,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NVDA. Hoertkorn Richard Charles raised its stake in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its position in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Total Wealth Planning LLC raised its position in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH raised its position in NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on NVDA shares. TD Cowen boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Four investment 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 MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Trading Up 2.3 %

Shares of NASDAQ:NVDA opened at $140.83 on Wednesday. The company’s 50-day moving average price is $138.84 and its two-hundred day moving average price is $129.11. 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 one year low of $58.58 and a one year high of $153.13. The stock has a market capitalization of $3.45 trillion, a PE ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. 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%.

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.