Pegasus Asset Management Inc. Has $9.29 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Pegasus Asset Management Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,525 shares of the computer hardware maker’s stock after selling 1,570 shares during the period. NVIDIA comprises 3.5% of Pegasus Asset Management Inc.’s portfolio, making the stock its 8th biggest holding. Pegasus Asset Management Inc.’s holdings in NVIDIA were worth $9,293,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. lifted its stake in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. lifted its stake in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the period. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd raised its stake in shares of NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Barclays lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $138.25 on Friday. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.41, a P/E/G ratio of 2.45 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The firm’s 50-day simple moving average is $136.05 and its two-hundred day simple moving average is $123.67.

NVIDIA (NASDAQ:NVDA) last announced 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. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the completion of the sale, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at $8,180,034,219.84. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

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.