NVIDIA Co. (NASDAQ:NVDA) is Spirit of America Management Corp NY’s Largest Position

Spirit of America Management Corp NY lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 222,220 shares of the computer hardware maker’s stock after selling 30,150 shares during the period. NVIDIA makes up approximately 5.4% of Spirit of America Management Corp NY’s investment portfolio, making the stock its largest position. Spirit of America Management Corp NY’s holdings in NVIDIA were worth $26,986,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVDA. Hamilton Wealth LLC lifted its stake in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. FSA Wealth Management LLC lifted its stake in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after purchasing an additional 14 shares during the period. Clean Yield Group lifted its stake in shares of NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after purchasing an additional 15 shares during the period. Earnest Partners LLC lifted its stake in shares of NVIDIA by 1.5% in the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Finally, Aspect Partners LLC lifted its stake in shares of NVIDIA by 5.6% in the first quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock valued at $289,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $140.26 on Wednesday. The firm has a 50-day moving average price of $136.89 and a 200 day moving average price of $124.75. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.20, a P/E/G ratio of 2.51 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NVDA shares. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s 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. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the firm’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 owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,916,986 shares of company stock worth $227,311,199. Corporate 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.