Neville Rodie & Shaw Inc. Has $14.40 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Neville Rodie & Shaw Inc. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 118,606 shares of the computer hardware maker’s stock after selling 7,999 shares during the period. NVIDIA comprises approximately 1.1% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 26th biggest position. Neville Rodie & Shaw Inc.’s holdings in NVIDIA were worth $14,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 2.0 %

NASDAQ:NVDA opened at $135.40 on Monday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66. The firm has a fifty day simple moving average of $125.25 and a two-hundred day simple moving average of $116.24. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,614,995 shares in the company, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $104.83, for a total transaction of $12,579,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,614,995 shares in the company, valued at $8,031,549,925.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,396,270 shares of company stock worth $279,825,927 over the last three months. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of analyst reports. HSBC increased their target price on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Needham & Company LLC increased their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Mizuho increased their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA 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.