Stoneridge Investment Partners LLC Sells 179 Shares of NVIDIA Co. (NASDAQ:NVDA)

Stoneridge Investment Partners LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 0.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 128,531 shares of the computer hardware maker’s stock after selling 179 shares during the period. NVIDIA comprises about 5.8% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Stoneridge Investment Partners LLC’s holdings in NVIDIA were worth $15,609,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. grew its stake in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. increased its holdings in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. raised its position 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 valued at $29,505,000 after acquiring an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC grew its position in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management increased its stake in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,628,156 shares of company stock valued at $209,985,077. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Down 1.1 %

Shares of NVDA opened at $128.91 on Thursday. The business’s fifty day moving average price is $139.72 and its two-hundred day moving average price is $127.08. The firm has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. 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 company earned $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HSBC raised their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Craig Hallum increased their price target on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.