Investment Research & Advisory Group Inc. Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Investment Research & Advisory Group Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 72,382 shares of the computer hardware maker’s stock after selling 232 shares during the period. NVIDIA makes up approximately 3.7% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 4th largest holding. Investment Research & Advisory Group Inc.’s holdings in NVIDIA were worth $8,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Legal & General Group Plc raised its stake in 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. increased its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,916,986 shares of company stock valued at $227,311,199. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA opened at $140.26 on Wednesday. The business’s 50-day moving average price is $136.89 and its two-hundred day moving average price is $124.75. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.20, a P/E/G ratio of 2.51 and a beta of 1.63. 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 (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wedbush lifted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.