NVIDIA Co. (NASDAQ:NVDA) Position Reduced by Gruss & Co. LLC

Gruss & Co. LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 82.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the computer hardware maker’s stock after selling 14,000 shares during the quarter. NVIDIA accounts for 2.9% of Gruss & Co. LLC’s portfolio, making the stock its 12th largest position. Gruss & Co. LLC’s holdings in NVIDIA were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NVDA. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the first quarter valued at about $27,000. TCTC Holdings LLC acquired a new stake in NVIDIA in the first quarter worth about $82,000. Delos Wealth Advisors LLC increased its position in NVIDIA by 600.0% in the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after purchasing an additional 96 shares during the period. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $25,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $146.71 on Friday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a 50-day moving average of $133.55 and a 200-day moving average of $121.72. The firm has a market cap of $3.60 trillion, a P/E ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.68 EPS for the current year.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.88%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NVDA shares. Benchmark boosted their price objective on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum upped their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.82.

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.