NVIDIA Co. (NASDAQ:NVDA) is Los Angeles Capital Management LLC’s 3rd Largest Position

Los Angeles Capital Management LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 27.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,715,306 shares of the computer hardware maker’s stock after selling 4,841,070 shares during the period. NVIDIA makes up 6.2% of Los Angeles Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Los Angeles Capital Management LLC’s holdings in NVIDIA were worth $1,544,147,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. River Global Investors LLP grew its stake in shares of NVIDIA by 4.8% in the third quarter. River Global Investors LLP now owns 13,791 shares of the computer hardware maker’s stock worth $1,676,000 after acquiring an additional 631 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in NVIDIA by 1.3% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 81,692 shares of the computer hardware maker’s stock valued at $9,921,000 after purchasing an additional 1,026 shares during the period. Meritage Portfolio Management boosted its holdings in NVIDIA by 71.7% in the third quarter. Meritage Portfolio Management now owns 233,014 shares of the computer hardware maker’s stock valued at $28,297,000 after purchasing an additional 97,282 shares during the period. Crossmark Global Holdings Inc. grew its stake in NVIDIA by 1.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,588,348 shares of the computer hardware maker’s stock worth $192,889,000 after purchasing an additional 19,001 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in NVIDIA by 9.5% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 8,340 shares of the computer hardware maker’s stock worth $1,013,000 after purchasing an additional 724 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NVDA shares. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Susquehanna lifted 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. HSBC increased their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen lifted their price objective 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. Finally, Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four investment 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 company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,351,886 shares of company stock valued at $176,825,650 in the last three months. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $139.93 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm’s fifty day moving average price is $139.99 and its 200 day moving average price is $127.80. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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 dividend of $0.01 per share. 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 1.57%.

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.