NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 152,115 shares of the computer hardware maker’s stock after selling 3,609 shares during the period. NVIDIA makes up 5.2% of Portfolio Design Labs LLC’s portfolio, making the stock its 3rd biggest position. Portfolio Design Labs LLC’s holdings in NVIDIA were worth $18,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of NVDA. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. West Financial Advisors LLC acquired a new position in NVIDIA in the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 3.4 %

NASDAQ:NVDA opened at $149.43 on Tuesday. The company has a market capitalization of $3.66 trillion, a P/E ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. The stock’s 50 day moving average price is $139.75 and its 200 day moving average price is $128.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $49.48 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Needham & Company LLC lifted their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Barclays lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note 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’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred 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 sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last ninety days. 4.23% of the stock is currently owned by insiders.

About NVIDIA

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.