Deseret Mutual Benefit Administrators Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Deseret Mutual Benefit Administrators cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,785 shares of the computer hardware maker’s stock after selling 282 shares during the period. Deseret Mutual Benefit Administrators’ holdings in NVIDIA were worth $217,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. increased its position in NVIDIA by 897.5% during the 2nd 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 in the last quarter. Truepoint Inc. boosted its stake in shares of NVIDIA by 914.1% during the 2nd 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 last quarter. Westwood Holdings Group Inc. grew its holdings in shares of 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 buying an additional 208,362 shares in the last quarter. Blue Square Asset Management LLC raised its position in shares of 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 valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management lifted its stake in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 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 disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $201,687,727 in the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on NVDA shares. Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Mizuho upped their target price on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.70 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The company’s 50-day simple moving average is $139.63 and its 200-day simple moving average is $127.32.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

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.