NVIDIA Co. (NASDAQ:NVDA) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 390,815 shares of the computer hardware maker’s stock after selling 39,668 shares during the quarter. NVIDIA accounts for about 1.2% of AIA Group Ltd’s holdings, making the stock its 19th largest holding. AIA Group Ltd’s holdings in NVIDIA were worth $47,461,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVDA. Presidio Capital Management LLC boosted its stake in NVIDIA by 24.5% during the 3rd quarter. Presidio Capital Management LLC now owns 15,999 shares of the computer hardware maker’s stock worth $1,943,000 after purchasing an additional 3,146 shares during the last quarter. Bensler LLC lifted its stake in shares of NVIDIA by 0.6% in the third quarter. Bensler LLC now owns 291,555 shares of the computer hardware maker’s stock worth $35,406,000 after buying an additional 1,806 shares in the last quarter. Winthrop Advisory Group LLC boosted its position in NVIDIA by 4.9% during the third quarter. Winthrop Advisory Group LLC now owns 29,641 shares of the computer hardware maker’s stock worth $3,600,000 after acquiring an additional 1,374 shares during the last quarter. Vista Capital Partners Inc. grew its stake in NVIDIA by 59.4% during the 3rd quarter. Vista Capital Partners Inc. now owns 9,491 shares of the computer hardware maker’s stock valued at $1,153,000 after acquiring an additional 3,535 shares in the last quarter. Finally, Hudson Value Partners LLC raised its holdings in NVIDIA by 11.8% in the 3rd quarter. Hudson Value Partners LLC now owns 38,758 shares of the computer hardware maker’s stock valued at $4,707,000 after acquiring an additional 4,083 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVDA shares. Wells Fargo & Company upped their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. The Goldman Sachs Group increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four 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 stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA opened at $134.70 on Monday. The company has a 50 day moving average of $139.63 and a 200-day moving average of $127.32. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The stock has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 2.43 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 posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company 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 yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

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

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,556,986 shares of company stock worth $201,687,727. 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.