NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Constitution Capital LLC

Constitution Capital LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,720 shares of the computer hardware maker’s stock after selling 11,120 shares during the quarter. NVIDIA accounts for about 2.4% of Constitution Capital LLC’s investment portfolio, making the stock its 14th largest holding. Constitution Capital LLC’s holdings in NVIDIA were worth $4,581,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. increased its stake in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares during the period. Pegasus Asset Management Inc. increased its position in shares of NVIDIA by 0.3% during the 1st quarter. Pegasus Asset Management Inc. now owns 7,872 shares of the computer hardware maker’s stock valued at $7,113,000 after purchasing an additional 22 shares during the period. RiverFront Investment Group LLC raised its stake in shares of NVIDIA by 27.0% in the 1st quarter. RiverFront Investment Group LLC now owns 517 shares of the computer hardware maker’s stock worth $467,000 after buying an additional 110 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in NVIDIA by 154.1% during the first quarter. Salomon & Ludwin LLC now owns 188 shares of the computer hardware maker’s stock valued at $170,000 after buying an additional 114 shares in the last quarter. Finally, Smart Money Group LLC grew its holdings in NVIDIA by 13.1% during the first quarter. Smart Money Group LLC now owns 1,462 shares of the computer hardware maker’s stock worth $1,263,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVDA shares. Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Oppenheimer upped their target price on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Buying and Selling 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 value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sale, the director now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 3.3 %

Shares of NASDAQ NVDA opened at $141.98 on Friday. The stock has a market cap of $3.48 trillion, a PE ratio of 66.66, a PEG ratio of 1.54 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. The business has a fifty day moving average of $130.97 and a two-hundred day moving average of $120.08. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted 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 analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

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.