Patton Fund Management Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 22.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,493 shares of the computer hardware maker's stock after selling 15,412 shares during the quarter. NVIDIA accounts for approximately 1.3% of Patton Fund Management Inc.'s investment portfolio, making the stock its 16th largest position. Patton Fund Management Inc.'s holdings in NVIDIA were worth $6,496,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in NVDA. Financial Advisors LLC lifted its position in NVIDIA by 3.6% in the third quarter. Financial Advisors LLC now owns 2,792 shares of the computer hardware maker's stock worth $339,000 after buying an additional 98 shares during the last quarter. Orin Green Financial LLC lifted its holdings in shares of NVIDIA by 50.6% in the 3rd quarter. Orin Green Financial LLC now owns 6,340 shares of the computer hardware maker's stock worth $770,000 after acquiring an additional 2,130 shares during the last quarter. One Wealth Advisors LLC boosted its stake in shares of NVIDIA by 1.3% during the 3rd quarter. One Wealth Advisors LLC now owns 17,228 shares of the computer hardware maker's stock worth $2,092,000 after purchasing an additional 223 shares during the period. Naviter Wealth LLC grew its holdings in NVIDIA by 14.7% during the 3rd quarter. Naviter Wealth LLC now owns 129,254 shares of the computer hardware maker's stock valued at $15,698,000 after purchasing an additional 16,520 shares during the last quarter. Finally, Mezzasalma Advisors LLC lifted its stake in NVIDIA by 0.9% in the third quarter. Mezzasalma Advisors LLC now owns 140,115 shares of the computer hardware maker's stock worth $17,016,000 after purchasing an additional 1,194 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on NVDA shares. HSBC increased their target price on NVIDIA from $145.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. Barclays increased their price target on NVIDIA from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday. Sanford C. Bernstein boosted their price target on NVIDIA from $130.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, August 29th. Finally, Loop Capital reaffirmed a "buy" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.82.
Read Our Latest Analysis on NVIDIA
Insider Buying and Selling
In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company's stock.
NVIDIA Price Performance
NASDAQ NVDA traded down $1.95 during trading hours 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 company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm's 50-day moving average is $133.55 and its 200-day moving average is $121.72. The company has a market capitalization of $3.55 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm's revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.68 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA's payout ratio is 1.88%.
NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
NVIDIA Company Profile
(
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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