TCW Group Inc. Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

TCW Group Inc. reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,202,802 shares of the computer hardware maker’s stock after selling 215,114 shares during the quarter. NVIDIA makes up approximately 7.6% of TCW Group Inc.’s holdings, making the stock its largest holding. TCW Group Inc.’s holdings in NVIDIA were worth $874,708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ironwood Wealth Management LLC. lifted its holdings in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after buying an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. lifted its holdings in NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 3,240 shares in the last quarter. Tobam lifted its holdings in NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after buying an additional 36,937 shares in the last quarter. Great Diamond Partners LLC lifted its holdings in NVIDIA by 859.1% during the 2nd quarter. Great Diamond Partners LLC now owns 54,995 shares of the computer hardware maker’s stock worth $6,794,000 after buying an additional 49,261 shares in the last quarter. Finally, Rather & Kittrell Inc. lifted its holdings in NVIDIA by 947.4% during the 2nd quarter. Rather & Kittrell Inc. now owns 6,777 shares of the computer hardware maker’s stock worth $837,000 after buying an additional 6,130 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NVDA shares. JPMorgan Chase & Co. upped their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Susquehanna increased their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $140.83 on Wednesday. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 55.42, a PEG ratio of 2.48 and a beta of 1.64. The business has a 50-day moving average of $138.84 and a 200-day moving average of $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 fifty-two week low of $58.58 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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.