NVIDIA Co. (NASDAQ:NVDA) Shares Sold by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the third quarter, HoldingsChannel reports. The fund owned 420,200 shares of the computer hardware maker’s stock after selling 25,250 shares during the period. NVIDIA makes up about 15.2% of BOCHK Asset Management Ltd’s portfolio, making the stock its largest holding. BOCHK Asset Management Ltd’s holdings in NVIDIA were worth $51,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at $27,000. Finally, Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,916,986 shares of company stock worth $227,311,199 in the last ninety days. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. DA Davidson increased their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, TD Cowen increased their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 1.2 %

Shares of NASDAQ:NVDA opened at $140.26 on Wednesday. The company’s 50-day moving average price is $136.89 and its two-hundred day moving average price is $124.75. 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 one year low of $45.01 and a one year high of $152.89. The stock has a market capitalization of $3.43 trillion, a PE ratio of 55.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA Company 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.