NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Reduced by Woodstock Corp

Woodstock Corp trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 713,143 shares of the computer hardware maker’s stock after selling 23,362 shares during the period. NVIDIA accounts for about 8.3% of Woodstock Corp’s investment portfolio, making the stock its largest position. Woodstock Corp’s holdings in NVIDIA were worth $86,604,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Pegasus Asset Management Inc. boosted its position in shares of NVIDIA by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 7,872 shares of the computer hardware maker’s stock worth $7,113,000 after buying an additional 22 shares during the period. RiverFront Investment Group LLC lifted its position in shares of NVIDIA by 27.0% during the first quarter. RiverFront Investment Group LLC now owns 517 shares of the computer hardware maker’s stock worth $467,000 after purchasing an additional 110 shares in the last quarter. Salomon & Ludwin LLC boosted its position in NVIDIA by 154.1% in the 1st quarter. Salomon & Ludwin LLC now owns 188 shares of the computer hardware maker’s stock valued at $170,000 after buying an additional 114 shares during the last quarter. Finally, Smart Money Group LLC increased its holdings in NVIDIA by 13.1% during the 1st quarter. Smart Money Group LLC now owns 1,462 shares of the computer hardware maker’s stock worth $1,263,000 after purchasing an additional 169 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVDA. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Melius Research upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $160.00 target price (up from $138.00) on shares of NVIDIA in a report on Thursday. Finally, DA Davidson reiterated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % 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 valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by company insiders.

NVIDIA Trading Down 3.3 %

Shares of NVDA opened at $141.98 on Friday. The stock’s 50-day moving average price is $130.97 and its 200 day moving average price is $120.08. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 period in the prior year, the company posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA Cuts Dividend

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

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

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.