NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Norway Savings Bank

Norway Savings Bank decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,326 shares of the computer hardware maker’s stock after selling 1,884 shares during the quarter. NVIDIA makes up about 3.4% of Norway Savings Bank’s investment portfolio, making the stock its 3rd largest position. Norway Savings Bank’s holdings in NVIDIA were worth $6,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised its position 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 purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in NVIDIA in the first quarter worth $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at $27,000. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s 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 transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Westpark Capital increased their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein upped their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Oppenheimer lifted their target price on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Stock Down 3.3 %

NASDAQ:NVDA opened at $141.98 on Monday. The stock has a 50-day simple moving average of $130.97 and a 200 day simple moving average of $120.58. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a market cap of $3.48 trillion, a PE ratio of 66.60, a PEG ratio of 1.49 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 (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. On average, sell-side analysts expect that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) 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.