Whitener Capital Management Inc. Has $15.70 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Whitener Capital Management Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the third quarter, Holdings Channel.com reports. The fund owned 129,304 shares of the computer hardware maker’s stock after selling 421 shares during the quarter. NVIDIA comprises 4.5% of Whitener Capital Management Inc.’s portfolio, making the stock its 6th biggest holding. Whitener Capital Management Inc.’s holdings in NVIDIA were worth $15,703,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. increased its holdings in NVIDIA by 914.1% during 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 during the period. Westwood Holdings Group Inc. raised its position in NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares in the last quarter. Narwhal Capital Management lifted its holdings in shares of 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 buying an additional 26,373 shares during the period. Finally, Legal & General Group Plc grew its position in shares of NVIDIA by 884.0% during 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 buying an additional 191,469,114 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $132.00 on Tuesday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.23 trillion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company’s 50 day moving average is $139.84 and its 200 day moving average is $126.92.

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 the consensus estimate 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 the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its board has approved a share buyback plan 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. 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 currently 1.57%.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction 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. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,628,156 shares of company stock worth $197,995,077. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.