NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Foster Group Inc.

Foster Group Inc. cut its position in NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,721 shares of the computer hardware maker’s stock after selling 90 shares during the period. Foster Group Inc.’s holdings in NVIDIA were worth $3,124,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NVDA. Oak Asset Management LLC boosted its position in NVIDIA by 0.6% in the third quarter. Oak Asset Management LLC now owns 98,068 shares of the computer hardware maker’s stock valued at $11,909,000 after buying an additional 588 shares during the last quarter. SignalPoint Asset Management LLC lifted its stake in NVIDIA by 2.8% during the 3rd quarter. SignalPoint Asset Management LLC now owns 57,162 shares of the computer hardware maker’s stock valued at $6,939,000 after acquiring an additional 1,544 shares during the period. Myecfo LLC boosted its holdings in shares of NVIDIA by 38.4% in the 3rd quarter. Myecfo LLC now owns 3,252 shares of the computer hardware maker’s stock valued at $395,000 after acquiring an additional 902 shares during the last quarter. Fragasso Financial Advisors Inc increased its stake in shares of NVIDIA by 0.5% in the third quarter. Fragasso Financial Advisors Inc now owns 121,152 shares of the computer hardware maker’s stock worth $14,713,000 after acquiring an additional 575 shares during the period. Finally, SMI Advisory Services LLC raised its holdings in shares of NVIDIA by 2.9% during the third quarter. SMI Advisory Services LLC now owns 4,406 shares of the computer hardware maker’s stock worth $550,000 after purchasing an additional 126 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Westpark Capital increased their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. HSBC raised their target price on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Mizuho boosted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Bank of America upped their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Up 2.2 %

Shares of NASDAQ NVDA opened at $148.88 on Friday. The company has a market capitalization of $3.65 trillion, a P/E ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a 50 day simple moving average of $126.08 and a 200-day simple moving average of $117.25. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $148.93.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

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.