Invesco LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Invesco LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,190 shares of the computer hardware maker’s stock after selling 1,285 shares during the quarter. NVIDIA comprises approximately 1.6% of Invesco LLC’s portfolio, making the stock its 13th biggest holding. Invesco LLC’s holdings in NVIDIA were worth $4,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hoertkorn Richard Charles grew its position in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. Total Wealth Planning LLC grew its position in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after buying an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH grew its position in shares of NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after buying an additional 80 shares during the period. Pavion Blue Capital LLC grew its position in shares of NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after buying an additional 80 shares during the period. Finally, L. Roy Papp & Associates LLP grew its position in shares of NVIDIA by 2.5% in the 3rd quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after buying an additional 85 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.2 %

Shares of NVDA opened at $134.25 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The company has a 50 day simple moving average of $139.76 and a two-hundred day simple moving average of $126.77. The firm has a market cap of $3.29 trillion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63.

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

NVIDIA Dividend Announcement

The business 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 $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NVDA shares. Redburn Atlantic started coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Stifel Nicolaus upped their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. 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. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,628,156 shares of company stock worth $197,995,077. 4.23% of the stock is currently owned by insiders.

About NVIDIA

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.