Ulland Investment Advisors LLC Sells 1,137 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ulland Investment Advisors LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,219 shares of the computer hardware maker’s stock after selling 1,137 shares during the quarter. NVIDIA comprises 9.7% of Ulland Investment Advisors LLC’s holdings, making the stock its biggest position. Ulland Investment Advisors LLC’s holdings in NVIDIA were worth $13,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its position in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the period. Etfidea LLC bought a new position in NVIDIA during the first quarter valued at about $493,000. Westchester Capital Management Inc. grew its holdings in NVIDIA by 18.9% during the first quarter. Westchester Capital Management Inc. now owns 314 shares of the computer hardware maker’s stock worth $284,000 after acquiring an additional 50 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in NVIDIA by 11.6% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,996 shares of the computer hardware maker’s stock worth $1,804,000 after acquiring an additional 207 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in NVIDIA by 4.0% in the 1st quarter. Larson Financial Group LLC now owns 14,775 shares of the computer hardware maker’s stock valued at $13,350,000 after acquiring an additional 570 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Finally, Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $141.98 on Monday. The firm has a fifty day moving average price of $130.97 and a two-hundred day moving average price of $120.58. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market cap of $3.48 trillion, a PE ratio of 66.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Analysts expect that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last quarter. Company insiders own 4.23% of the company’s stock.

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.