NVIDIA Co. (NASDAQ:NVDA) Stake Decreased by Mathes Company Inc.

Mathes Company Inc. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,190 shares of the computer hardware maker’s stock after selling 31,019 shares during the quarter. NVIDIA makes up approximately 4.1% of Mathes Company Inc.’s portfolio, making the stock its 3rd largest holding. Mathes Company Inc.’s holdings in NVIDIA were worth $11,560,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Visionary Horizons LLC increased its position in NVIDIA by 18.1% in the third quarter. Visionary Horizons LLC now owns 9,659 shares of the computer hardware maker’s stock worth $1,173,000 after buying an additional 1,481 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of NVIDIA by 32.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 505,547 shares of the computer hardware maker’s stock worth $61,394,000 after acquiring an additional 125,210 shares during the period. Creative Capital Management Investments LLC grew its stake in shares of NVIDIA by 7.7% during the 3rd quarter. Creative Capital Management Investments LLC now owns 16,972 shares of the computer hardware maker’s stock worth $2,061,000 after acquiring an additional 1,212 shares during the period. Phillips Wealth Planners LLC raised its stake in NVIDIA by 4.3% in the 3rd quarter. Phillips Wealth Planners LLC now owns 2,505 shares of the computer hardware maker’s stock valued at $304,000 after acquiring an additional 104 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in NVIDIA by 12.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 851,185 shares of the computer hardware maker’s stock valued at $103,368,000 after acquiring an additional 92,697 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Melius Research lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock worth $197,995,077 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $134.25 on Friday. The firm has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. The company has a 50-day simple moving average of $139.76 and a two-hundred day simple moving average of $126.69. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, equities analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership 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.