Point72 Asia Singapore Pte. Ltd. Sells 17,680 Shares of NVIDIA Co. (NASDAQ:NVDA)

Point72 Asia Singapore Pte. Ltd. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 95.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835 shares of the computer hardware maker’s stock after selling 17,680 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in NVIDIA were worth $103,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new position in shares of NVIDIA during the 1st quarter valued at $30,000. TCTC Holdings LLC purchased a new position in NVIDIA in the 1st quarter worth $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in NVIDIA in the first quarter worth $98,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $135.40 on Friday. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 63.57, a P/E/G ratio of 1.40 and a beta of 1.66. The business’s fifty day simple moving average is $125.25 and its two-hundred day simple moving average is $116.01. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on NVDA shares. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Robert W. Baird increased their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Bank of America increased their price target on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the completion of the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,516,270 shares of company stock worth $291,803,127 over the last quarter. Company insiders own 4.23% of the company’s stock.

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.