ORG Partners LLC Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

ORG Partners LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 29.1% during the third quarter, HoldingsChannel reports. The firm owned 58,289 shares of the computer hardware maker’s stock after selling 23,951 shares during the period. NVIDIA comprises 1.1% of ORG Partners LLC’s portfolio, making the stock its 21st biggest holding. ORG Partners LLC’s holdings in NVIDIA were worth $7,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. raised its holdings in shares of NVIDIA by 897.5% during the second 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 during the last quarter. Truepoint Inc. lifted its holdings in NVIDIA by 914.1% in the second 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. raised its position in NVIDIA by 683.9% in the second 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 period. Legal & General Group Plc grew its position in shares of 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 acquiring an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd grew its holdings in NVIDIA by 1,106.0% during 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 during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 3.3 %

Shares of NASDAQ:NVDA opened at $141.98 on Friday. The business has a 50 day simple moving average of $130.97 and a two-hundred day simple moving average of $120.08. The firm has a market capitalization 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 debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding 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 often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho upped their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Needham & Company LLC increased their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, HSBC increased their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

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.