NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,784 shares of the computer hardware maker's stock after selling 6,005 shares during the quarter. NVIDIA accounts for 1.3% of Malaga Cove Capital LLC's portfolio, making the stock its 23rd largest position. Malaga Cove Capital LLC's holdings in NVIDIA were worth $3,131,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. CGC Financial Services LLC purchased a new position in NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter valued at $31,000. Finally, FPC Investment Advisory Inc. boosted its holdings in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker's stock worth $34,000 after buying an additional 261 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Barclays boosted their price objective on NVIDIA from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Bank of America reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Stifel Nicolaus boosted their price target 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.15.

NVIDIA Stock Up 3.1 %

Shares of NVDA stock traded up $4.02 during trading hours on Friday, reaching $134.70. 304,377,688 shares of the stock were exchanged, compared to its average volume of 382,932,125. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The business's fifty day moving average is $139.63 and its two-hundred day moving average is $127.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The company 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 company's quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date 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 1.57%.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 over the last three months. 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.