DMC Group LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

DMC Group LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,290 shares of the computer hardware maker’s stock after selling 700 shares during the period. DMC Group LLC’s holdings in NVIDIA were worth $885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cedrus LLC raised its stake in NVIDIA by 1.7% in the 3rd quarter. Cedrus LLC now owns 21,792 shares of the computer hardware maker’s stock valued at $2,646,000 after acquiring an additional 361 shares during the period. Means Investment CO. Inc. increased its stake in shares of NVIDIA by 6.7% in the third quarter. Means Investment CO. Inc. now owns 240,107 shares of the computer hardware maker’s stock worth $29,159,000 after purchasing an additional 15,036 shares in the last quarter. Powers Advisory Group LLC bought a new stake in shares of NVIDIA in the third quarter valued at approximately $240,000. Proathlete Wealth Management LLC lifted its stake in shares of NVIDIA by 1.5% during the 3rd quarter. Proathlete Wealth Management LLC now owns 16,227 shares of the computer hardware maker’s stock valued at $1,971,000 after buying an additional 243 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in NVIDIA by 6.1% in the 3rd quarter. Resonant Capital Advisors LLC now owns 68,206 shares of the computer hardware maker’s stock worth $8,284,000 after buying an additional 3,921 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $136.02 on Tuesday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market cap of $3.33 trillion, a P/E ratio of 53.53, a P/E/G ratio of 2.60 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $134.39 and a 200-day moving average of $122.84.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 analysts’ expectations of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Benchmark boosted their price objective on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

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.