RWQ Financial Management Services Inc. Sells 136,761 Shares of NVIDIA Co. (NASDAQ:NVDA)

RWQ Financial Management Services Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,480 shares of the computer hardware maker’s stock after selling 136,761 shares during the quarter. NVIDIA accounts for approximately 14.5% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 2nd largest position. RWQ Financial Management Services Inc.’s holdings in NVIDIA were worth $41,955,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVDA. Legal & General Group Plc boosted its holdings in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVDA shares. Mizuho lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Westpark Capital lifted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein upped their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 1.7 %

NVDA opened at $132.00 on Tuesday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. 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 company’s 50-day moving average is $139.84 and its 200 day moving average is $126.92. The firm has a market capitalization of $3.23 trillion, a P/E ratio of 51.95, a PEG ratio of 2.43 and a beta of 1.63.

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

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.