Rheos Capital Works Inc. Sells 610,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Rheos Capital Works Inc. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 65.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,000 shares of the computer hardware maker's stock after selling 610,000 shares during the period. NVIDIA accounts for about 2.0% of Rheos Capital Works Inc.'s investment portfolio, making the stock its 8th largest position. Rheos Capital Works Inc.'s holdings in NVIDIA were worth $38,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at $27,000. TCTC Holdings LLC bought a new stake in shares of NVIDIA in the 1st quarter worth about $82,000. Delos Wealth Advisors LLC grew its holdings in NVIDIA by 600.0% during the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker's stock valued at $101,000 after purchasing an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter worth about $25,000. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 1.2 %

Shares of NASDAQ NVDA traded down $1.72 on Thursday, reaching $144.17. 265,200,750 shares of the company traded hands, compared to its average volume of 397,050,656. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $133.00 and a 200 day moving average of $121.54. The stock has a market capitalization of $3.54 trillion, a PE ratio of 67.60, a P/E/G ratio of 1.54 and a beta of 1.66.

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 the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during 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 revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.88%.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVDA. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an "outperform" rating in a research note on Thursday. Oppenheimer restated an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday. HSBC lifted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Needham & Company LLC increased their price objective on NVIDIA from $145.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.82.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company's stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % 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 in the last quarter. Insiders own 4.23% of the company's stock.

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.