Waverton Investment Management Ltd Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Waverton Investment Management Ltd reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.6% during the 3rd quarter, Holdings Channel reports. The fund owned 22,459 shares of the computer hardware maker’s stock after selling 830 shares during the period. Waverton Investment Management Ltd’s holdings in NVIDIA were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Legal & General Group Plc boosted its holdings 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 buying an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. grew 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 valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NVIDIA by 1,123.2% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVDA shares. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their price target 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. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Loop Capital reissued a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Barclays increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company 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 given a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 125,000 shares of the firm’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 completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. This represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,351,886 shares of company stock valued at $176,825,650. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.1 %

Shares of NVDA opened at $137.01 on Friday. The firm has a market cap of $3.36 trillion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $139.97 and its two-hundred day moving average is $127.90. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

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 return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.