Gruss & Co. LLC Sells 14,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Gruss & Co. LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 82.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the computer hardware maker's stock after selling 14,000 shares during the quarter. NVIDIA comprises approximately 2.9% of Gruss & Co. LLC's holdings, making the stock its 12th largest position. Gruss & Co. LLC's holdings in NVIDIA were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker's stock worth $2,839,000 after purchasing an additional 9 shares during the period. Poehling Capital Management INC. boosted its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker's stock worth $1,442,000 after buying an additional 14 shares during the period. FSA Wealth Management LLC grew its stake in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker's stock valued at $439,000 after buying an additional 14 shares during the last quarter. Clean Yield Group raised its holdings in NVIDIA by 0.8% in the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker's stock worth $1,622,000 after acquiring an additional 15 shares during the period. Finally, Bell Investment Advisors Inc lifted its position in NVIDIA by 1.3% during the 1st quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker's stock worth $1,092,000 after acquiring an additional 16 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company's stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on NVDA. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday. Needham & Company LLC boosted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Finally, UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Five 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $160.82.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $1.95 during trading hours on Friday, hitting $144.72. 40,488,000 shares of the stock were exchanged, compared to its average volume of 396,077,906. The company's fifty day simple moving average is $133.55 and its two-hundred day simple moving average is $121.72. The company has a market cap of $3.55 trillion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. 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 Co. has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The company's revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 dividend yield of 0.03%. NVIDIA's payout ratio is currently 1.88%.

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.