CORDA Investment Management LLC. Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

CORDA Investment Management LLC. reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,648 shares of the computer hardware maker’s stock after selling 1,465 shares during the quarter. CORDA Investment Management LLC.’s holdings in NVIDIA were worth $3,722,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVDA. DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $31,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,156 shares of company stock valued at $197,995,077. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $130.39 on Wednesday. The business’s fifty day simple moving average is $139.79 and its 200-day simple moving average is $127.07. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.19 trillion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89.

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

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Barclays boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Mizuho lifted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup raised their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given 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 $164.15.

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.