NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,342 shares of the computer hardware maker’s stock after selling 517 shares during the period. Contravisory Investment Management Inc.’s holdings in NVIDIA were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter worth $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Up 2.1 %

NVDA stock opened at $148.29 on Wednesday. The business’s fifty day moving average price is $127.79 and its two-hundred day moving average price is $118.90. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 69.62, a PEG ratio of 1.56 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.

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

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Truist Financial boosted their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Bank of America raised their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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 stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction 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 sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. Company insiders own 4.23% of the company’s stock.

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.