NVIDIA Co. (NASDAQ:NVDA) Stock Position Cut by Fairscale Capital LLC

Fairscale Capital LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,847 shares of the computer hardware maker’s stock after selling 5,474 shares during the quarter. NVIDIA accounts for about 5.8% of Fairscale Capital LLC’s investment portfolio, making the stock its 3rd largest holding. Fairscale Capital LLC’s holdings in NVIDIA were worth $6,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NVDA. Truepoint Inc. boosted its stake in NVIDIA by 26.8% during the 3rd quarter. Truepoint Inc. now owns 16,470 shares of the computer hardware maker’s stock valued at $2,000,000 after acquiring an additional 3,480 shares during the last quarter. Jim Saulnier & Associates LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at about $233,000. Towercrest Capital Management lifted its position in shares of NVIDIA by 2.7% during the third quarter. Towercrest Capital Management now owns 15,540 shares of the computer hardware maker’s stock worth $1,887,000 after purchasing an additional 410 shares during the last quarter. Palisade Asset Management LLC grew its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Finally, Algert Global LLC bought a new stake in NVIDIA in the third quarter valued at about $19,627,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.0 %

NVIDIA stock opened at $140.11 on Friday. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a P/E/G ratio of 2.43 and a beta of 1.64. The firm has a fifty day moving average price of $139.89 and a two-hundred day moving average price of $128.54. NVIDIA Co. has a fifty-two week low of $51.69 and a fifty-two week high of $153.13. 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 announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared 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. The ex-dividend date was 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%.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Wednesday. Four equities 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 company’s stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

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.