Constitution Capital LLC Sells 11,120 Shares of NVIDIA Co. (NASDAQ:NVDA)

Constitution Capital LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 22.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,720 shares of the computer hardware maker’s stock after selling 11,120 shares during the period. NVIDIA accounts for approximately 2.4% of Constitution Capital LLC’s holdings, making the stock its 14th largest holding. Constitution Capital LLC’s holdings in NVIDIA were worth $4,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. grew its position in shares of 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 worth $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. raised its position in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after acquiring an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its stake in NVIDIA by 683.9% during 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 grew its holdings in NVIDIA by 884.0% during the second 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 period. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in NVIDIA by 1,106.0% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was 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 directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Susquehanna boosted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Mizuho lifted their price target on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Down 3.3 %

NVDA opened at $141.98 on Friday. The stock’s fifty day simple moving average is $130.97 and its 200 day simple moving average is $120.08. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a market cap of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved a stock buyback program 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA 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.