Bamco Inc. NY Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bamco Inc. NY lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 10.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,993,580 shares of the computer hardware maker’s stock after selling 358,891 shares during the quarter. NVIDIA accounts for approximately 1.0% of Bamco Inc. NY’s holdings, making the stock its 20th biggest holding. Bamco Inc. NY’s holdings in NVIDIA were worth $363,540,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts recently commented on NVDA shares. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday, January 8th. Morgan Stanley raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.27.

NVIDIA Trading Up 3.5 %

Shares of NVIDIA stock opened at $136.32 on Thursday. NVIDIA Co. has a 1-year low of $54.74 and a 1-year high of $153.13. The company’s fifty day simple moving average is $139.68 and its 200-day simple moving average is $128.82. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

About NVIDIA

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.