NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 21.0% during the third quarter, Holdings Channel reports. The firm owned 9,240 shares of the computer hardware maker’s stock after selling 2,450 shares during the period. Mengis Capital Management Inc.’s holdings in NVIDIA were worth $1,122,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC increased its stake in NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the last quarter. Whitener Capital Management Inc. grew its holdings in shares of NVIDIA by 920.4% during the 2nd quarter. Whitener Capital Management Inc. now owns 129,725 shares of the computer hardware maker’s stock worth $16,026,000 after purchasing an additional 117,012 shares during the period. Trivant Custom Portfolio Group LLC grew its holdings in shares of NVIDIA by 891.4% during the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 74,830 shares of the computer hardware maker’s stock worth $9,244,000 after purchasing an additional 67,282 shares during the period. Bar Harbor Wealth Management increased its position in NVIDIA by 937.5% during the 2nd quarter. Bar Harbor Wealth Management now owns 58,720 shares of the computer hardware maker’s stock worth $7,254,000 after purchasing an additional 53,060 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC raised its holdings in NVIDIA by 1,013.3% in the second quarter. Shulman DeMeo Asset Management LLC now owns 7,949 shares of the computer hardware maker’s stock valued at $982,000 after buying an additional 7,235 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $137.01 on Monday. The company has a market cap of $3.36 trillion, a PE ratio of 53.92, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm has a 50-day simple moving average of $139.97 and a 200 day simple moving average of $127.97. 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 posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several research firms have issued reports on NVDA. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Wells Fargo & Company upped their price target 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. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Finally, Benchmark increased their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In related news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,351,886 shares of company stock valued at $176,825,650. 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.