Running Point Capital Advisors LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Running Point Capital Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.1% during the third quarter, HoldingsChannel.com reports. The firm owned 2,527 shares of the computer hardware maker’s stock after selling 802 shares during the period. Running Point Capital Advisors LLC’s holdings in NVIDIA were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NVDA. Thompson Siegel & Walmsley LLC grew its holdings in shares of NVIDIA by 21.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 254,259 shares of the computer hardware maker’s stock worth $30,877,000 after purchasing an additional 45,569 shares during the period. John G Ullman & Associates Inc. acquired a new position in NVIDIA during the third quarter valued at approximately $208,000. German American Bancorp Inc. grew its stake in NVIDIA by 4.7% during the third quarter. German American Bancorp Inc. now owns 256,257 shares of the computer hardware maker’s stock worth $31,120,000 after buying an additional 11,392 shares during the period. Landscape Capital Management L.L.C. raised its stake in shares of NVIDIA by 24.4% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,815 shares of the computer hardware maker’s stock valued at $1,678,000 after acquiring an additional 2,709 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of NVIDIA by 5.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,297,588 shares of the computer hardware maker’s stock valued at $2,343,500,000 after acquiring an additional 1,026,107 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $140.14 on Wednesday. NVIDIA Co. has a 1 year low of $49.48 and a 1 year high of $153.13. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.15, a PEG ratio of 2.43 and a beta of 1.64. 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’s fifty day moving average is $139.72 and its two-hundred day moving average is $128.37.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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. 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 last year, the firm posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial raised their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Needham & Company LLC upped 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. Four equities research 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 company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

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 value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’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 in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,071,886 shares of company stock valued at $140,997,550 in the last three months. 4.23% of the stock is currently owned by corporate 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.