Rappaport Reiches Capital Management LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Rappaport Reiches Capital Management LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,568 shares of the computer hardware maker’s stock after selling 4,636 shares during the period. NVIDIA comprises approximately 2.4% of Rappaport Reiches Capital Management LLC’s holdings, making the stock its 10th largest holding. Rappaport Reiches Capital Management LLC’s holdings in NVIDIA were worth $8,934,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its holdings in NVIDIA by 914.1% during the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Legal & General Group Plc lifted its holdings in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd lifted its holdings in NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after buying an additional 488,148 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 2.1 %

NASDAQ NVDA opened at $148.29 on Wednesday. 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 Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company has a 50 day moving average of $127.79 and a 200-day moving average of $118.90. The company has a market cap of $3.64 trillion, a price-to-earnings ratio of 69.62, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. 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 dividend payout ratio (DPR) is 1.88%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was 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 the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. William Blair began coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.