Hodges Capital Management Inc. Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hodges Capital Management Inc. lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.7% in the third quarter, HoldingsChannel reports. The firm owned 347,420 shares of the computer hardware maker’s stock after selling 28,871 shares during the period. NVIDIA makes up approximately 2.7% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Hodges Capital Management Inc.’s holdings in NVIDIA were worth $42,191,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $27,000. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter worth $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now 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. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $137.71 on Monday. NVIDIA Co. has a one year low of $56.11 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a P/E/G ratio of 2.45 and a beta of 1.64. The stock’s fifty day moving average price is $138.99 and its two-hundred day moving average price is $129.04.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. Benchmark reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

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.