Massachusetts Financial Services Co. MA Sells 15,840,696 Shares of NVIDIA Co. (NASDAQ:NVDA)

Massachusetts Financial Services Co. MA cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 19.2% in the third quarter, HoldingsChannel.com reports. The fund owned 66,848,909 shares of the computer hardware maker’s stock after selling 15,840,696 shares during the period. NVIDIA makes up about 2.4% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 2nd biggest position. Massachusetts Financial Services Co. MA’s holdings in NVIDIA were worth $8,118,132,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVDA. Integrated Investment Consultants LLC increased its position in shares of NVIDIA by 659.5% during the third quarter. Integrated Investment Consultants LLC now owns 11,970 shares of the computer hardware maker’s stock worth $1,454,000 after purchasing an additional 10,394 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in NVIDIA by 21.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 254,259 shares of the computer hardware maker’s stock worth $30,877,000 after purchasing an additional 45,569 shares during the last quarter. John G Ullman & Associates Inc. purchased a new stake in shares of NVIDIA during the third quarter worth $208,000. German American Bancorp Inc. raised its position in shares of NVIDIA by 4.7% in the third quarter. German American Bancorp Inc. now owns 256,257 shares of the computer hardware maker’s stock valued at $31,120,000 after buying an additional 11,392 shares during the last quarter. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of NVIDIA by 24.4% in the third quarter. Landscape Capital Management L.L.C. now owns 13,815 shares of the computer hardware maker’s stock worth $1,678,000 after buying an additional 2,709 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $140.14 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $49.48 and a 12 month high of $153.13. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 55.15, a P/E/G ratio of 2.43 and a beta of 1.64. The company’s fifty day moving average price is $139.72 and its 200 day moving average price is $128.37.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley increased their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,071,886 shares of company stock worth $140,997,550. Insiders own 4.23% of the company’s stock.

About NVIDIA

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.