Baillie Gifford & Co. Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Baillie Gifford & Co. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 63,499,698 shares of the computer hardware maker’s stock after selling 18,558,916 shares during the period. NVIDIA makes up about 5.8% of Baillie Gifford & Co.’s holdings, making the stock its 2nd largest holding. Baillie Gifford & Co.’s holdings in NVIDIA were worth $7,711,403,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Lantz Financial LLC boosted its position in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after buying an additional 36,774 shares during the period. New Perspectives Inc acquired a new stake in NVIDIA in the 2nd quarter valued at approximately $217,000. Patrick M Sweeney & Associates Inc. raised its stake in NVIDIA by 890.7% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 5,330 shares of the computer hardware maker’s stock valued at $658,000 after acquiring an additional 4,792 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in NVIDIA by 812.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 31,824 shares of the computer hardware maker’s stock worth $3,932,000 after acquiring an additional 28,338 shares during the period. Finally, Abundance Wealth Counselors grew its stake in shares of NVIDIA by 914.2% in the second quarter. Abundance Wealth Counselors now owns 76,701 shares of the computer hardware maker’s stock worth $9,476,000 after purchasing an additional 69,138 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Redburn Atlantic assumed coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Benchmark upped their target price on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. 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 company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA opened at $137.01 on Friday. The stock has a fifty day moving average price of $139.97 and a 200 day moving average price of $127.95. 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 Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 53.92, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company earned $0.38 EPS. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the 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 transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,351,886 shares of company stock worth $176,825,650. 4.23% of the stock is owned by corporate insiders.

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.