Crescent Sterling Ltd. Sells 880 Shares of NVIDIA Co. (NASDAQ:NVDA)

Crescent Sterling Ltd. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.3% in the third quarter, HoldingsChannel reports. The firm owned 6,295 shares of the computer hardware maker’s stock after selling 880 shares during the quarter. Crescent Sterling Ltd.’s holdings in NVIDIA were worth $764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Legal & General Group Plc grew 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 worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 84,515,429 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Citigroup increased their price objective on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $160.00 price objective (up previously from $138.00) on shares of NVIDIA in a report on Thursday, November 14th. Evercore ISI lifted their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus upped their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.63.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $147.01 on Wednesday. The stock has a market cap of $3.61 trillion, a PE ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The firm has a fifty day moving average price of $132.42 and a 200-day moving average price of $121.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

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, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock worth $254,784,327 in the last three months. 4.23% of the stock is owned by company insiders.

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.