NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Sapient Capital LLC

Sapient Capital LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 791,248 shares of the computer hardware maker’s stock after selling 2,702 shares during the period. NVIDIA comprises about 1.9% of Sapient Capital LLC’s portfolio, making the stock its 11th biggest position. Sapient Capital LLC’s holdings in NVIDIA were worth $96,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. lifted its position in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its stake in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the last quarter. Legal & General Group Plc grew its holdings in 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 valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in shares of NVIDIA by 1,106.0% during the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after acquiring an additional 488,148 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Bank of America raised their target price on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Stock Performance

NVDA stock opened at $141.98 on Friday. The stock’s 50 day simple moving average is $130.97 and its 200 day simple moving average is $120.08. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm has a market cap of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company 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.