DekaBank Deutsche Girozentrale Sells 14,200,651 Shares of NVIDIA Co. (NASDAQ:NVDA)

DekaBank Deutsche Girozentrale lowered its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 87.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,004,081 shares of the computer hardware maker's stock after selling 14,200,651 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in NVIDIA were worth $235,836,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. raised its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker's stock worth $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of NVIDIA by 8.1% during the first quarter. Levin Capital Strategies L.P. now owns 1,281 shares of the computer hardware maker's stock worth $1,158,000 after acquiring an additional 96 shares during the last quarter. Innova Wealth Partners acquired a new position in shares of NVIDIA during the first quarter valued at $374,000. Sugar Maple Asset Management LLC bought a new position in NVIDIA in the first quarter valued at about $898,000. Finally, California State Teachers Retirement System increased its position in NVIDIA by 0.8% in the first quarter. California State Teachers Retirement System now owns 3,979,207 shares of the computer hardware maker's stock worth $3,595,452,000 after purchasing an additional 30,671 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVDA. Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Citigroup raised their price target on NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Finally, Phillip Securities reiterated an "accumulate" rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $164.15.

NVIDIA Stock Down 1.8 %

Shares of NASDAQ:NVDA traded down $2.62 during trading on Friday, hitting $142.44. 187,138,063 shares of the company were exchanged, compared to its average volume of 213,407,952. NVIDIA Co. has a fifty-two week low of $45.60 and a fifty-two week high of $152.89. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.06, a P/E/G ratio of 2.62 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $138.16 and a two-hundred day moving average price of $125.58.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 firm's revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is currently 1.57%.

NVIDIA declared that its board has approved a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company's stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,796,986 shares of company stock worth $214,418,399. Company insiders own 4.23% of the company's stock.

NVIDIA Company 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.