NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 36.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,380 shares of the computer hardware maker's stock after selling 71,531 shares during the period. NVIDIA accounts for about 3.9% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 2nd largest holding. Castle Rock Wealth Management LLC's holdings in NVIDIA were worth $16,253,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker's stock worth $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Legal & General Group Plc grew its position in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NASDAQ NVDA traded down $2.02 during trading on Wednesday, reaching $146.27. 191,455,203 shares of the company traded hands, compared to its average volume of 401,197,406. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company has a market cap of $3.59 trillion, a price-to-earnings ratio of 68.87, a P/E/G ratio of 1.56 and a beta of 1.66. The stock's 50 day moving average price is $128.59 and its two-hundred day moving average price is $119.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. NVIDIA's quarterly revenue was up 122.4% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is 1.88%.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. JPMorgan Chase & Co. raised their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.48.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last 90 days. 4.23% of the stock is currently owned by insiders.

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.