Rockingstone Advisors LLC Has $9.17 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Rockingstone Advisors LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,505 shares of the computer hardware maker’s stock after selling 9,125 shares during the quarter. NVIDIA makes up 4.5% of Rockingstone Advisors LLC’s holdings, making the stock its 2nd largest holding. Rockingstone Advisors LLC’s holdings in NVIDIA were worth $9,169,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Udine Wealth Management Inc. lifted its stake in shares of NVIDIA by 15.6% during the 3rd quarter. Udine Wealth Management Inc. now owns 11,811 shares of the computer hardware maker’s stock valued at $1,434,000 after buying an additional 1,591 shares in the last quarter. Gratus Wealth Advisors LLC lifted its stake in NVIDIA by 16.1% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 64,438 shares of the computer hardware maker’s stock worth $8,230,000 after purchasing an additional 8,954 shares in the last quarter. Boyce & Associates Wealth Consulting Inc. lifted its stake in NVIDIA by 0.6% in the 3rd quarter. Boyce & Associates Wealth Consulting Inc. now owns 26,119 shares of the computer hardware maker’s stock worth $3,172,000 after purchasing an additional 152 shares in the last quarter. Talbot Financial LLC lifted its stake in NVIDIA by 3.6% in the 3rd quarter. Talbot Financial LLC now owns 232,600 shares of the computer hardware maker’s stock worth $28,247,000 after purchasing an additional 8,108 shares in the last quarter. Finally, Cape ANN Savings Bank lifted its stake in NVIDIA by 58.0% in the 3rd quarter. Cape ANN Savings Bank now owns 21,618 shares of the computer hardware maker’s stock worth $2,625,000 after purchasing an additional 7,938 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho boosted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Raymond James boosted their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

Shares of NVDA opened at $147.63 on Friday. The company has a 50 day moving average price of $127.27 and a 200-day moving average price of $117.94. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The stock has a market capitalization of $3.62 trillion, a PE ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to buy 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.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Company 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.