HT Partners LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

HT Partners LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the third quarter, Holdings Channel.com reports. The firm owned 22,068 shares of the computer hardware maker’s stock after selling 1,328 shares during the period. NVIDIA makes up approximately 0.9% of HT Partners LLC’s investment portfolio, making the stock its 11th biggest position. HT Partners LLC’s holdings in NVIDIA were worth $2,680,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in NVDA. University of Texas Texas AM Investment Management Co. raised its holdings in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. raised its holdings in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Narwhal Capital Management raised its holdings in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.2 %

NVDA stock opened at $140.26 on Wednesday. The firm has a fifty day moving average price of $136.89 and a 200 day moving average price of $124.75. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.43 trillion, a PE ratio of 55.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend 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 declared that its board has approved a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVDA shares. Susquehanna increased their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, August 6th. Finally, Wedbush increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was 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 owns 492,409 shares in the company, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,916,986 shares of company stock valued at $227,311,199 over the last three months. 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.