NVIDIA Co. (NASDAQ:NVDA) is Saxony Capital Management LLC’s 3rd Largest Position

Saxony Capital Management LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,630 shares of the computer hardware maker’s stock after selling 2,167 shares during the period. NVIDIA accounts for about 3.7% of Saxony Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Saxony Capital Management LLC’s holdings in NVIDIA were worth $4,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% during the 2nd 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. raised its position in shares of NVIDIA by 870.3% in 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 buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% in 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 during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NVIDIA by 808.6% in the second 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 during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. DA Davidson raised their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial upped their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 2.2 %

NASDAQ:NVDA opened at $138.25 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.45 and a beta of 1.66. The business’s 50-day moving average price is $136.05 and its two-hundred day moving average price is $123.90.

NVIDIA (NASDAQ:NVDA) last released 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has initiated 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 in the last 90 days. 4.23% of the stock is currently 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.