NVIDIA Co. (NASDAQ:NVDA) Stock Position Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,713,808 shares of the computer hardware maker’s stock after selling 171,323 shares during the quarter. NVIDIA makes up approximately 6.3% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 3rd largest position. Gateway Investment Advisers LLC’s holdings in NVIDIA were worth $572,445,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA during the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NVDA shares. Bank of America lifted 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. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. The Goldman Sachs Group upped their target price on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Raymond James increased their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Up 0.3 %

NVIDIA stock opened at $146.76 on Friday. The company has a market capitalization of $3.60 trillion, a P/E ratio of 68.84, a PEG ratio of 1.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The stock has a 50-day simple moving average of $129.39 and a 200-day simple moving average of $119.51.

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

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is currently 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.