17 Capital Partners LLC Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

17 Capital Partners LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,387 shares of the computer hardware maker’s stock after selling 743 shares during the period. NVIDIA makes up about 1.0% of 17 Capital Partners LLC’s holdings, making the stock its 27th largest holding. 17 Capital Partners LLC’s holdings in NVIDIA were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Privium Fund Management B.V. increased its stake in shares of NVIDIA by 28.1% during the third quarter. Privium Fund Management B.V. now owns 73,000 shares of the computer hardware maker’s stock worth $8,864,000 after buying an additional 16,000 shares during the period. Mach 1 Financial Group LLC grew its holdings in NVIDIA by 14.1% during the 3rd quarter. Mach 1 Financial Group LLC now owns 25,785 shares of the computer hardware maker’s stock worth $3,138,000 after acquiring an additional 3,191 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of NVIDIA by 2.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 106,571 shares of the computer hardware maker’s stock valued at $12,942,000 after purchasing an additional 2,147 shares during the last quarter. XML Financial LLC raised its holdings in shares of NVIDIA by 10.6% in the 3rd quarter. XML Financial LLC now owns 58,496 shares of the computer hardware maker’s stock valued at $7,104,000 after purchasing an additional 5,617 shares in the last quarter. Finally, GSG Advisors LLC lifted its position in shares of NVIDIA by 6.7% during the 3rd quarter. GSG Advisors LLC now owns 41,013 shares of the computer hardware maker’s stock worth $4,799,000 after purchasing an additional 2,593 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $140.22 on Thursday. The company has a market cap of $3.43 trillion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The business has a fifty day moving average of $139.84 and a two-hundred day moving average of $127.62. 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 quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction 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 trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last quarter. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday, November 18th. Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Four 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 MarketBeat.com, NVIDIA presently 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.