Guinness Asset Management LTD Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Guinness Asset Management LTD lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 321,837 shares of the computer hardware maker’s stock after selling 5,653 shares during the period. NVIDIA comprises approximately 0.7% of Guinness Asset Management LTD’s holdings, making the stock its 25th largest position. Guinness Asset Management LTD’s holdings in NVIDIA were worth $39,082,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the 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 sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’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 transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on NVDA. Melius Research boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. TD Cowen raised NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday. They issued a “buy” rating and a $178.00 price target on the stock. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Price Performance

Shares of NVDA stock 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 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 has a fifty day simple moving average of $129.39 and a two-hundred day simple moving average of $119.51. The stock has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.84, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign 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. Stockholders of record on Thursday, September 12th were paid 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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.