Franchise Capital Ltd Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Franchise Capital Ltd lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 41.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 844,099 shares of the computer hardware maker’s stock after selling 598,491 shares during the quarter. NVIDIA accounts for 36.9% of Franchise Capital Ltd’s portfolio, making the stock its 2nd biggest position. Franchise Capital Ltd’s holdings in NVIDIA were worth $102,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Privium Fund Management UK Ltd purchased a new position in NVIDIA during the first quarter worth about $2,635,000. Miracle Mile Advisors LLC grew its position in shares of NVIDIA by 5.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 39,794 shares of the computer hardware maker’s stock worth $35,956,000 after buying an additional 2,003 shares during the last quarter. CCG Wealth Management LLC lifted its holdings in NVIDIA by 27.9% in the first quarter. CCG Wealth Management LLC now owns 587 shares of the computer hardware maker’s stock worth $531,000 after buying an additional 128 shares during the period. Claro Advisors LLC boosted its holdings in shares of NVIDIA by 3.4% during the 1st quarter. Claro Advisors LLC now owns 10,152 shares of the computer hardware maker’s stock valued at $9,173,000 after buying an additional 337 shares in the last quarter. Finally, O ROURKE & COMPANY Inc grew its stake in shares of NVIDIA by 16.2% in the 1st quarter. O ROURKE & COMPANY Inc now owns 611 shares of the computer hardware maker’s stock worth $552,000 after buying an additional 85 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 0.5 %

NVDA opened at $136.05 on Tuesday. The stock has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. The company has a fifty day moving average of $125.45 and a two-hundred day moving average of $116.60. 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 fifty-two week low of $44.90 and a fifty-two week high of $144.42.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,396,270 shares of company stock valued at $279,825,927. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. Westpark Capital upped their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Craig Hallum raised their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.07.

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.