Rice Hall James & Associates LLC Sells 733 Shares of NVIDIA Co. (NASDAQ:NVDA)

Rice Hall James & Associates LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.1% in the third quarter, Holdings Channel.com reports. The fund owned 17,182 shares of the computer hardware maker’s stock after selling 733 shares during the quarter. Rice Hall James & Associates LLC’s holdings in NVIDIA were worth $2,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Hoertkorn Richard Charles lifted its stake in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the period. Total Wealth Planning LLC grew its stake in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH grew its stake in shares of NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the period. Pavion Blue Capital LLC grew its stake in shares of NVIDIA by 0.4% during the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after purchasing an additional 80 shares during the period. Finally, L. Roy Papp & Associates LLP grew its stake in shares of NVIDIA by 2.5% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after purchasing an additional 85 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $134.25 on Friday. The company has a fifty day simple moving average of $139.76 and a two-hundred day simple moving average of $126.60. The company has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the business earned $0.38 EPS. The company’s revenue was up 93.6% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVDA. Westpark Capital raised their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Susquehanna raised their price objective 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. TD Cowen raised their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley raised their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four research 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. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.