Birch Capital Management LLC Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Birch Capital Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 10.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,025 shares of the computer hardware maker’s stock after selling 1,045 shares during the period. Birch Capital Management LLC’s holdings in NVIDIA were worth $1,096,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in NVIDIA by 52.2% in 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 acquiring an additional 13,135 shares during the last quarter. Etfidea LLC bought a new stake in shares of NVIDIA in the first quarter worth about $493,000. Westchester Capital Management Inc. lifted its position in shares of NVIDIA by 18.9% in the first quarter. Westchester Capital Management Inc. now owns 314 shares of the computer hardware maker’s stock worth $284,000 after buying an additional 50 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in NVIDIA by 11.6% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,996 shares of the computer hardware maker’s stock valued at $1,804,000 after buying an additional 207 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in NVIDIA by 4.0% during the first quarter. Larson Financial Group LLC now owns 14,775 shares of the computer hardware maker’s stock valued at $13,350,000 after buying an additional 570 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVDA shares. Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Westpark Capital increased their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % 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 over the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 3.3 %

NVIDIA stock opened at $141.98 on Monday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The business has a fifty day moving average of $130.97 and a two-hundred day moving average of $120.58. The firm has a market cap of $3.48 trillion, a P/E ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

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

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.