NVIDIA Co. (NASDAQ:NVDA) is Bank Pictet & Cie Europe AG’s 3rd Largest Position

Bank Pictet & Cie Europe AG lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,323,488 shares of the computer hardware maker’s stock after selling 81,038 shares during the quarter. NVIDIA comprises about 6.7% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 3rd largest position. Bank Pictet & Cie Europe AG’s holdings in NVIDIA were worth $282,164,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in NVIDIA during the first quarter worth $27,000. Finally, Quest Partners LLC acquired a new stake in NVIDIA during the second quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, HSBC boosted their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

Shares of NVDA opened at $138.25 on Friday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm’s 50 day moving average price is $136.05 and its 200 day moving average price is $123.90. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.39 trillion, a P/E ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback program 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by 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.