Weatherly Asset Management L. P. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Weatherly Asset Management L. P. lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 156,171 shares of the computer hardware maker’s stock after selling 7,094 shares during the period. NVIDIA accounts for 1.7% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 14th biggest position. Weatherly Asset Management L. P.’s holdings in NVIDIA were worth $18,967,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its holdings in shares of NVIDIA by 875.8% during the second quarter. Gulf International Bank UK Ltd now owns 2,141,420 shares of the computer hardware maker’s stock valued at $264,551,000 after acquiring an additional 1,921,964 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in shares of NVIDIA by 817.9% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 23,222 shares of the computer hardware maker’s stock worth $2,977,000 after purchasing an additional 20,692 shares during the period. Boit C F David increased its position in shares of NVIDIA by 900.0% during the second quarter. Boit C F David now owns 6,000 shares of the computer hardware maker’s stock valued at $741,000 after buying an additional 5,400 shares during the period. Triangle Securities Wealth Management raised its stake in NVIDIA by 846.9% in the second quarter. Triangle Securities Wealth Management now owns 18,560 shares of the computer hardware maker’s stock worth $2,293,000 after buying an additional 16,600 shares in the last quarter. Finally, First Affirmative Financial Network lifted its holdings in NVIDIA by 940.4% in the second quarter. First Affirmative Financial Network now owns 44,967 shares of the computer hardware maker’s stock worth $5,555,000 after buying an additional 40,645 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 2.2 %

NVDA stock opened at $134.25 on Friday. The business’s 50-day moving average price is $139.76 and its 200-day moving average price is $126.69. The stock has a market cap of $3.29 trillion, a P/E ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA announced that its board has authorized a share repurchase program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Robert W. Baird upped their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Needham & Company LLC raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Redburn Atlantic began coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock valued at $197,995,077 over the last ninety days. 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.