RBO & Co. LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

RBO & Co. LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 51.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,810 shares of the computer hardware maker’s stock after selling 8,300 shares during the quarter. RBO & Co. LLC’s holdings in NVIDIA were worth $948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Hoertkorn Richard Charles increased its holdings 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 valued at $424,000 after purchasing an additional 70 shares in the last quarter. Smart Portfolios LLC boosted its holdings in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares in the last quarter. Palisade Asset Management LLC grew its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the period. Total Wealth Planning LLC increased its holdings in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 78 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its stake in shares of NVIDIA by 0.3% during 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 acquiring an additional 80 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. DA Davidson raised their price objective on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Raymond James boosted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Trading Down 3.0 %

Shares of NVDA stock opened at $135.91 on Monday. 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 fifty-two week low of $53.56 and a fifty-two week high of $153.13. The firm’s 50 day moving average price is $139.90 and its two-hundred day moving average price is $128.70. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

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 the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. On average, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend 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.