NVIDIA Co. (NASDAQ:NVDA) Stock Position Trimmed by Lmcg Investments LLC

Lmcg Investments LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,288 shares of the computer hardware maker’s stock after selling 346 shares during the quarter. NVIDIA accounts for about 1.7% of Lmcg Investments LLC’s holdings, making the stock its 9th biggest position. Lmcg Investments LLC’s holdings in NVIDIA were worth $28,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lantz Financial LLC raised its holdings in NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares during the last quarter. Simplicity Wealth LLC raised its holdings in NVIDIA by 849.7% in the 2nd quarter. Simplicity Wealth LLC now owns 679,698 shares of the computer hardware maker’s stock valued at $83,970,000 after acquiring an additional 608,125 shares during the last quarter. Gill Capital Partners LLC raised its holdings in NVIDIA by 948.8% in the 2nd quarter. Gill Capital Partners LLC now owns 18,061 shares of the computer hardware maker’s stock valued at $2,231,000 after acquiring an additional 16,339 shares during the last quarter. Founders Capital Management raised its holdings in NVIDIA by 1,226.9% in the 2nd quarter. Founders Capital Management now owns 690 shares of the computer hardware maker’s stock valued at $85,000 after acquiring an additional 638 shares during the last quarter. Finally, Selective Wealth Management Inc. raised its holdings in NVIDIA by 974.3% in the 2nd quarter. Selective Wealth Management Inc. now owns 9,604 shares of the computer hardware maker’s stock valued at $1,262,000 after acquiring an additional 8,710 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,628,156 shares of company stock valued at $197,995,077 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company’s 50-day simple moving average is $139.76 and its 200-day simple moving average is $126.77. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The stock has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a share buyback 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 buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Mizuho boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.