NVIDIA Co. (NASDAQ:NVDA) Stake Lessened by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 21.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,242 shares of the computer hardware maker’s stock after selling 909 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in NVIDIA were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of NVIDIA by 854.1% in 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 buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NVIDIA by 870.3% during 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. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of analyst reports. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. The Goldman Sachs Group increased their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.63.

NVIDIA Stock Performance

NVIDIA stock opened at $145.89 on Thursday. The stock has a 50-day simple moving average of $133.00 and a 200 day simple moving average of $121.54. The stock has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 68.49, a P/E/G ratio of 1.49 and a beta of 1.66. 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.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be 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%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 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.