NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Kraft Davis & Associates LLC

Kraft Davis & Associates LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the third quarter, HoldingsChannel.com reports. The fund owned 28,948 shares of the computer hardware maker’s stock after selling 395 shares during the period. NVIDIA makes up approximately 1.1% of Kraft Davis & Associates LLC’s holdings, making the stock its 23rd biggest position. Kraft Davis & Associates LLC’s holdings in NVIDIA were worth $3,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NVDA. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVDA shares. Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. DA Davidson lifted their price objective on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company raised 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. Four investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Up 4.5 %

NASDAQ:NVDA opened at $144.47 on Monday. The stock has a 50-day simple moving average of $139.57 and a 200-day simple moving average of $128.15. The stock has a market cap of $3.54 trillion, a P/E ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 1 year low of $47.51 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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 analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock valued at $161,499,400 in the last ninety days. Insiders own 4.23% of the company’s stock.

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.