LGT Financial Advisors LLC Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

LGT Financial Advisors LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,550 shares of the computer hardware maker’s stock after selling 360 shares during the period. NVIDIA comprises 0.8% of LGT Financial Advisors LLC’s portfolio, making the stock its 28th biggest holding. LGT Financial Advisors LLC’s holdings in NVIDIA were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc raised its position 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its stake in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA opened at $134.70 on Friday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm’s 50 day moving average price is $139.63 and its 200 day moving average price is $127.25. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, equities research 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 share buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.