Catalyst Capital Advisors LLC Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Catalyst Capital Advisors LLC reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,547 shares of the computer hardware maker’s stock after selling 1,106 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in NVIDIA were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc boosted its position 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew its stake in 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 acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of NVIDIA by 808.6% in the 2nd 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 purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $209,985,077 in the last quarter. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $128.91 on Thursday. 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 stock has a market capitalization of $3.16 trillion, a PE ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The stock’s fifty day moving average is $139.72 and its 200-day moving average is $127.08.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wedbush upped their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.