NVIDIA Co. (NASDAQ:NVDA) Stake Trimmed by UG Investment Advisers Ltd.

UG Investment Advisers Ltd. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 19.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 66,062 shares of the computer hardware maker’s stock after selling 16,163 shares during the quarter. NVIDIA accounts for 3.0% of UG Investment Advisers Ltd.’s portfolio, making the stock its 8th biggest position. UG Investment Advisers Ltd.’s holdings in NVIDIA were worth $8,023,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. increased its stake in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. grew its stake in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the period. Narwhal Capital Management lifted its position in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% in the second 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 period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NVDA shares. HSBC boosted their price objective on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Benchmark raised their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays upped 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. Finally, Evercore ISI raised their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 2.2 %

Shares of NASDAQ:NVDA opened at $134.25 on Friday. The firm has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50 day moving average price of $139.76 and a 200-day moving average price of $126.69. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,156 shares of company stock worth $197,995,077. 4.23% of the stock is currently owned by company insiders.

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.