Collective Family Office LLC Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Collective Family Office LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,947 shares of the computer hardware maker’s stock after selling 643 shares during the period. Collective Family Office LLC’s holdings in NVIDIA were worth $1,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Legal & General Group Plc lifted its position in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. grew its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,614,995 shares of the company’s stock, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,276,270 shares of company stock valued at $267,363,927 in the last three months. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI lifted their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Raymond James increased their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $139.91 on Wednesday. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 65.62, a PEG ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a 12 month low of $44.90 and a 12 month high of $144.42. The business has a 50 day simple moving average of $125.68 and a two-hundred day simple moving average of $117.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, analysts predict that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

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.