Perigon Wealth Management LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,699,266 shares of the computer hardware maker's stock after selling 141,246 shares during the quarter. NVIDIA comprises approximately 5.5% of Perigon Wealth Management LLC's investment portfolio, making the stock its 2nd largest holding. Perigon Wealth Management LLC's holdings in NVIDIA were worth $206,359,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. increased its stake in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock valued at $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. increased its position in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker's stock worth $1,605,000 after acquiring an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock worth $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its holdings in NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker's stock worth $65,758,000 after purchasing an additional 488,148 shares in the last quarter. Institutional investors own 65.27% of the company's stock.
NVIDIA Price Performance
NVIDIA stock traded down $1.95 during mid-day trading on Friday, hitting $144.72. 40,488,000 shares of the company traded hands, compared to its average volume of 396,077,906. 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 one year low of $45.01 and a one year high of $152.89. The stock has a market cap of $3.55 trillion, a price-to-earnings ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The stock has a fifty day moving average price of $133.55 and a 200-day moving average price of $121.72.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 55.04% and a return on equity of 113.50%. The firm's revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.
NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.88%.
Insider Activity at NVIDIA
In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company's stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. 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. Corporate insiders own 4.23% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday. Loop Capital restated a "buy" rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday. Finally, Needham & Company LLC increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday. 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, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $160.82.
View Our Latest Stock Analysis on NVIDIA
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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