Hanseatic Management Services Inc. Sells 6,323 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hanseatic Management Services Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 30.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,690 shares of the computer hardware maker's stock after selling 6,323 shares during the period. NVIDIA makes up about 2.5% of Hanseatic Management Services Inc.'s portfolio, making the stock its 7th largest holding. Hanseatic Management Services Inc.'s holdings in NVIDIA were worth $1,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. grew its holdings in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock worth $14,715,000 after acquiring an additional 107,169 shares during the period. Truepoint Inc. grew its stake in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock worth $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock valued at $29,505,000 after purchasing an additional 208,362 shares during the last quarter. Blue Square Asset Management LLC raised its holdings in shares of NVIDIA by 26.7% during the third 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 during the period. Finally, Narwhal Capital Management raised its stake in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVDA shares. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Susquehanna lifted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Oppenheimer reissued an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Four 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.15.

NVIDIA Price Performance

Shares of NVIDIA stock traded up $4.02 during trading on Friday, reaching $134.70. The company's stock had a trading volume of 304,377,688 shares, compared to its average volume of 382,932,125. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The stock has a 50-day moving average price of $139.63 and a two-hundred day moving average price of $127.32. 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 stock 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 announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (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 analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA's quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, sell-side 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. Investors of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date of this dividend 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 1.57%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,556,986 shares of company stock valued at $201,687,727. 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.