Walkner Condon Financial Advisors LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 29.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,531 shares of the computer hardware maker's stock after selling 12,020 shares during the quarter. Walkner Condon Financial Advisors LLC's holdings in NVIDIA were worth $3,465,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% in 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. Bank of New York Mellon Corp raised its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker's stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Insider Buying and Selling
In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company's stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock valued at $201,687,727 over the last 90 days. 4.23% of the stock is owned by insiders.
NVIDIA Price Performance
NVDA traded up $4.02 on Friday, reaching $134.70. The stock had a trading volume of 304,377,688 shares, compared to its average volume of 382,932,125. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm has a 50-day moving average of $139.63 and a 200-day moving average of $127.32.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm's revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.
NVIDIA declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
NVIDIA Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. 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 dividend payout ratio (DPR) is presently 1.57%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NVDA. Phillip Securities reaffirmed an "accumulate" rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Truist Financial upped their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Mizuho boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Finally, Melius Research increased their target price on NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.15.
Check Out Our Latest Report on NVIDIA
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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