NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,170,804 shares of the computer hardware maker’s stock after selling 210,996 shares during the period. NVIDIA comprises approximately 3.6% of Douglas Lane & Associates LLC’s holdings, making the stock its largest holding. Douglas Lane & Associates LLC’s holdings in NVIDIA were worth $263,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. grew its position in shares of NVIDIA by 897.5% in 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 acquiring an additional 107,169 shares in the last quarter. Truepoint Inc. lifted its stake in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the period. Legal & General Group Plc increased its stake in 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd raised its holdings in shares of NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock worth $65,758,000 after purchasing an additional 488,148 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Susquehanna boosted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday. Westpark Capital upped their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Down 3.3 %

NVDA stock opened at $141.98 on Friday. The company’s 50 day simple moving average is $130.18 and its 200-day simple moving average is $119.70. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced 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 1.88%.

NVIDIA declared that its Board of Directors has approved a stock repurchase program 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred 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 directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % 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 currently owned by insiders.

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.