Cozad Asset Management Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 14.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,699 shares of the computer hardware maker's stock after selling 34,240 shares during the quarter. NVIDIA accounts for approximately 2.4% of Cozad Asset Management Inc.'s holdings, making the stock its 3rd biggest holding. Cozad Asset Management Inc.'s holdings in NVIDIA were worth $24,737,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. boosted its stake in shares of 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 valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. raised its stake in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock worth $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in NVIDIA by 683.9% in 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 during the period. Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock valued at $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management grew its holdings in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock worth $66,267,000 after acquiring an additional 26,373 shares during the period. 65.27% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on NVDA shares. Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Morgan Stanley lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. 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 note on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $164.15.
Check Out Our Latest Analysis on NVIDIA
NVIDIA Trading Up 3.1 %
NASDAQ NVDA traded up $4.02 during trading hours on Friday, hitting $134.70. 304,377,688 shares of the company's stock were exchanged, compared to its average volume of 382,932,125. The business's 50 day moving average is $139.63 and its 200-day moving average is $127.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The firm has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.03%. NVIDIA's payout ratio is currently 1.57%.
NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Insider Activity
In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company's stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company's stock, valued at approximately $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 1,556,986 shares of company stock worth $201,687,727 over the last ninety days. Corporate insiders own 4.23% of the company's stock.
NVIDIA Profile
(
Free Report)
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.
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