Armor Investment Advisors LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Armor Investment Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,632 shares of the computer hardware maker’s stock after selling 498 shares during the quarter. Armor Investment Advisors LLC’s holdings in NVIDIA were worth $1,291,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NVDA. Legal & General Group Plc raised its position in shares of 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 acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NVIDIA by 854.1% in the second 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 during the last quarter. Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% during the second 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 buying 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 buying an additional 73,589,208 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.1 %

Shares of NVDA opened at $134.70 on Friday. The firm has a market cap of $3.30 trillion, a P/E ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The stock’s 50 day moving average is $139.63 and its two-hundred day moving average is $127.25. 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 (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVDA shares. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Stifel Nicolaus boosted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by corporate insiders.

About NVIDIA

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.