NVIDIA Co. (NASDAQ:NVDA) is Audent Global Asset Management LLC’s 2nd Largest Position

Audent Global Asset Management LLC lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 52.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 46,210 shares of the computer hardware maker’s stock after selling 51,248 shares during the period. NVIDIA accounts for approximately 9.6% of Audent Global Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Audent Global Asset Management LLC’s holdings in NVIDIA were worth $5,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of NVDA. Quest Partners LLC purchased a new stake in NVIDIA in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the second quarter worth about $31,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 3.5 %

NVIDIA stock opened at $136.32 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.34 trillion, a PE ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. The stock’s 50 day simple moving average is $139.68 and its two-hundred day simple moving average is $128.82. NVIDIA Co. has a 12 month low of $54.74 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Stifel Nicolaus increased their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup raised their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.27.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. 4.23% of the stock is currently owned by insiders.

NVIDIA 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.