NVIDIA Co. (NASDAQ:NVDA) Stake Cut by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 108,496,915 shares of the computer hardware maker’s stock after selling 1,076,568 shares during the period. NVIDIA makes up 3.7% of Franklin Resources Inc.’s investment portfolio, making the stock its 2nd largest holding. Franklin Resources Inc. owned about 0.44% of NVIDIA worth $13,175,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Asset Advisors Investment Management LLC boosted its holdings in shares of NVIDIA by 0.4% in the third quarter. Asset Advisors Investment Management LLC now owns 81,453 shares of the computer hardware maker’s stock valued at $9,892,000 after acquiring an additional 343 shares in the last quarter. Tri Ri Asset Management Corp purchased a new stake in shares of NVIDIA in the third quarter valued at about $4,975,000. Peapack Gladstone Financial Corp boosted its holdings in shares of NVIDIA by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 324,348 shares of the computer hardware maker’s stock valued at $39,388,000 after acquiring an additional 20,540 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of NVIDIA by 10.3% in the third quarter. Synovus Financial Corp now owns 1,215,693 shares of the computer hardware maker’s stock valued at $147,635,000 after acquiring an additional 113,296 shares in the last quarter. Finally, Castellan Group boosted its holdings in shares of NVIDIA by 3.9% in the third quarter. Castellan Group now owns 53,843 shares of the computer hardware maker’s stock valued at $6,539,000 after acquiring an additional 2,013 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 4.4 %

NVDA stock opened at $147.07 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a fifty-two week low of $58.58 and a fifty-two week high of $153.13. The firm’s 50-day simple moving average is $138.69 and its 200 day simple moving average is $129.22. The stock has a market cap of $3.60 trillion, a PE ratio of 57.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given 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 (DPR) is 1.57%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday, January 7th. UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Needham & Company LLC boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were 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 directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

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.