Hayek Kallen Investment Management Has $9.46 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Hayek Kallen Investment Management reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,894 shares of the computer hardware maker’s stock after selling 188 shares during the quarter. NVIDIA accounts for 3.3% of Hayek Kallen Investment Management’s portfolio, making the stock its 6th biggest holding. Hayek Kallen Investment Management’s holdings in NVIDIA were worth $9,459,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares during the last quarter. Etfidea LLC purchased a new stake in NVIDIA during the first quarter valued at $493,000. Westchester Capital Management Inc. lifted its holdings in NVIDIA by 18.9% in the first quarter. Westchester Capital Management Inc. now owns 314 shares of the computer hardware maker’s stock valued at $284,000 after acquiring an additional 50 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in NVIDIA by 11.6% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,996 shares of the computer hardware maker’s stock valued at $1,804,000 after acquiring an additional 207 shares during the period. Finally, Larson Financial Group LLC boosted its position in NVIDIA by 4.0% in the first quarter. Larson Financial Group LLC now owns 14,775 shares of the computer hardware maker’s stock worth $13,350,000 after purchasing an additional 570 shares during the last quarter. 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 Monday. 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 Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm’s 50-day moving average price is $130.97 and its 200-day moving average price is $120.58. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Oppenheimer raised their target price on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company 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.