NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Reduced by Sowa Financial Group Inc.

Sowa Financial Group Inc. decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,755 shares of the computer hardware maker’s stock after selling 1,237 shares during the period. NVIDIA accounts for 3.6% of Sowa Financial Group Inc.’s investment portfolio, making the stock its 10th largest holding. Sowa Financial Group Inc.’s holdings in NVIDIA were worth $5,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% during 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 purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 0.3 %

Shares of NVDA opened at $146.76 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The firm has a market capitalization of $3.60 trillion, a P/E ratio of 68.84, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $129.39 and its 200 day simple moving average is $119.51.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVDA. DA Davidson reissued a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Oppenheimer boosted their target price on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $160.00 price target (up from $138.00) on shares of NVIDIA in a report on Thursday. Needham & Company LLC boosted their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Evercore ISI raised their target price on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

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.