NVIDIA Co. (NASDAQ:NVDA) Stake Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,713,808 shares of the computer hardware maker’s stock after selling 171,323 shares during the quarter. NVIDIA accounts for 6.3% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 3rd largest position. Gateway Investment Advisers LLC’s holdings in NVIDIA were worth $572,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in NVIDIA by 52.2% in the first 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 last quarter. Crown Wealth Group LLC boosted its position in shares of NVIDIA by 28.7% in the 1st quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 800 shares in the last quarter. Harbor Advisors LLC boosted its position in shares of NVIDIA by 3.4% in the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock worth $16,264,000 after buying an additional 600 shares in the last quarter. Presilium Private Wealth LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $201,000. Finally, Better Money Decisions LLC increased its holdings in NVIDIA by 4.8% during the 1st quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock valued at $657,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVDA shares. Sanford C. Bernstein increased their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI raised their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Needham & Company LLC upped their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Finally, Melius Research boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Stock Up 0.3 %

NASDAQ:NVDA opened at $146.76 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.84, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The stock has a 50-day simple moving average of $129.39 and a 200 day simple moving average of $119.51.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given 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 of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred 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 directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last quarter. 4.23% of the stock is owned by company insiders.

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.