Second Line Capital LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Second Line Capital LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,262 shares of the computer hardware maker’s stock after selling 518 shares during the period. Second Line Capital LLC’s holdings in NVIDIA were worth $2,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its stake in shares of NVIDIA by 4.9% in the third quarter. Rehmann Capital Advisory Group now owns 119,564 shares of the computer hardware maker’s stock worth $14,537,000 after purchasing an additional 5,568 shares in the last quarter. Main Line Retirement Advisors LLC increased its stake in shares of NVIDIA by 17.9% in the third quarter. Main Line Retirement Advisors LLC now owns 5,341 shares of the computer hardware maker’s stock worth $649,000 after purchasing an additional 810 shares in the last quarter. Hobbs Group Advisors LLC increased its stake in shares of NVIDIA by 8.9% in the third quarter. Hobbs Group Advisors LLC now owns 11,034 shares of the computer hardware maker’s stock worth $1,340,000 after purchasing an additional 902 shares in the last quarter. Fortem Financial Group LLC increased its stake in shares of NVIDIA by 3.6% in the third quarter. Fortem Financial Group LLC now owns 80,974 shares of the computer hardware maker’s stock worth $9,833,000 after purchasing an additional 2,799 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter worth $23,514,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 2.3 %

NVDA stock opened at $140.83 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $3.45 trillion, a PE ratio of 55.42, a P/E/G ratio of 2.48 and a beta of 1.64. The firm’s 50-day moving average is $138.84 and its 200 day moving average is $129.11. NVIDIA Co. has a 12 month low of $58.58 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVDA shares. Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. Wedbush upped their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Melius Research upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.63.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % 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 NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Profile

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.