NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,922 shares of the computer hardware maker’s stock after selling 10,592 shares during the period. NVIDIA accounts for approximately 2.9% of Terra Nova Asset Management LLC’s holdings, making the stock its 6th biggest holding. Terra Nova Asset Management LLC’s holdings in NVIDIA were worth $3,877,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. McKinley Carter Wealth Services Inc. lifted its position in shares of NVIDIA by 10.1% during the third quarter. McKinley Carter Wealth Services Inc. now owns 29,150 shares of the computer hardware maker’s stock worth $3,540,000 after purchasing an additional 2,675 shares in the last quarter. Peoples Financial Services CORP. raised its position in shares of NVIDIA by 14.3% during the third quarter. Peoples Financial Services CORP. now owns 800 shares of the computer hardware maker’s stock worth $97,000 after acquiring an additional 100 shares during the last quarter. Verum Partners LLC boosted its holdings in NVIDIA by 8.9% in the third quarter. Verum Partners LLC now owns 12,772 shares of the computer hardware maker’s stock valued at $1,551,000 after acquiring an additional 1,042 shares during the last quarter. Sunpointe LLC increased its position in NVIDIA by 4.5% in the third quarter. Sunpointe LLC now owns 47,888 shares of the computer hardware maker’s stock worth $5,816,000 after purchasing an additional 2,062 shares during the period. Finally, SeaCrest Wealth Management LLC raised its holdings in NVIDIA by 0.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 409,076 shares of the computer hardware maker’s stock worth $49,678,000 after purchasing an additional 2,123 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Needham & Company LLC boosted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $160.00 price target (up from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday. Finally, New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Five investment 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 stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $154.63.

Insider Buying and Selling 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 stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $147.01 on Wednesday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a market cap of $3.61 trillion, a PE ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The business’s 50 day moving average price is $132.42 and its two-hundred day moving average price is $121.37. 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 posted its quarterly earnings results 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. 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 dividend payout ratio (DPR) is currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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.