EULAV Asset Management Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

EULAV Asset Management lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 22.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 385,138 shares of the computer hardware maker’s stock after selling 111,996 shares during the quarter. NVIDIA makes up about 1.1% of EULAV Asset Management’s holdings, making the stock its 26th biggest position. EULAV Asset Management’s holdings in NVIDIA were worth $46,771,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the second quarter valued at $31,000. West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NVDA shares. Bank of America reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Barclays upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC lifted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Benchmark upped their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, DA Davidson lifted their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report 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 stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,226,886 shares of company stock valued at $161,499,400. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.4 %

Shares of NVIDIA stock opened at $149.43 on Tuesday. The business has a 50-day moving average price of $139.75 and a 200 day moving average price of $128.28. NVIDIA Co. has a fifty-two week low of $49.48 and a fifty-two week high of $152.89. The firm has a market cap of $3.66 trillion, a P/E ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. 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 (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. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was 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.