NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Webster Bank N. A.

Webster Bank N. A. trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.9% during the third quarter, HoldingsChannel reports. The fund owned 270,094 shares of the computer hardware maker’s stock after selling 47,227 shares during the period. NVIDIA comprises about 3.5% of Webster Bank N. A.’s investment portfolio, making the stock its 4th largest position. Webster Bank N. A.’s holdings in NVIDIA were worth $32,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in 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 last quarter. Bank of New York Mellon Corp boosted its holdings in NVIDIA by 854.1% during the second 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 purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. DA Davidson restated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. HSBC upped their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Evercore ISI boosted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $141.98 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $130.18 and its 200 day simple moving average is $119.70. The firm has a market capitalization of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company 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. The ex-dividend date of this dividend 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 currently 1.88%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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 Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was 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 valued at $254,784,327 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.