Optimum Investment Advisors reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,745 shares of the computer hardware maker's stock after selling 6,590 shares during the period. NVIDIA makes up 5.3% of Optimum Investment Advisors' investment portfolio, making the stock its 3rd largest holding. Optimum Investment Advisors' holdings in NVIDIA were worth $12,234,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its holdings in NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker's stock worth $34,597,000 after buying an additional 13,135 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of NVIDIA by 23.0% in the first quarter. Empowered Funds LLC now owns 71,262 shares of the computer hardware maker's stock valued at $64,389,000 after purchasing an additional 13,315 shares during the last quarter. Allen Investment Management LLC lifted its position in shares of NVIDIA by 20.2% during the first quarter. Allen Investment Management LLC now owns 65,718 shares of the computer hardware maker's stock valued at $59,380,000 after purchasing an additional 11,047 shares in the last quarter. Monolith Management Ltd boosted its holdings in NVIDIA by 266.8% during the first quarter. Monolith Management Ltd now owns 70,250 shares of the computer hardware maker's stock worth $63,475,000 after purchasing an additional 51,100 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in NVIDIA by 155.3% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,700 shares of the computer hardware maker's stock worth $8,765,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Insider Buying and Selling
In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares of the company's stock, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % 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 over the last three months. 4.23% of the stock is owned by company insiders.
NVIDIA Trading Down 1.3 %
Shares of NVDA stock traded down $1.95 on Friday, hitting $144.72. 40,488,000 shares of the company's stock traded hands, compared to its average volume of 396,077,906. The stock has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The company's fifty day simple moving average is $133.55 and its 200 day simple moving average is $121.72. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. 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 released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm 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 113.50% and a net margin of 55.04%. The company's quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.68 EPS for the current year.
NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA's dividend payout ratio is 1.88%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on NVDA shares. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday. Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday. DA Davidson restated a "neutral" rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $160.82.
Check Out Our Latest Report on NVDA
About NVIDIA
(
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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