Whittier Trust Co. Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Whittier Trust Co. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,689,916 shares of the computer hardware maker’s stock after selling 137,063 shares during the quarter. NVIDIA comprises 6.0% of Whittier Trust Co.’s investment portfolio, making the stock its largest position. Whittier Trust Co.’s holdings in NVIDIA were worth $448,103,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. CGC Financial Services LLC purchased a new stake in NVIDIA in the second quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter worth about $27,000. Finally, Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $135.34 on Friday. The firm has a 50 day simple moving average of $135.61 and a 200-day simple moving average of $123.34. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its board has initiated a stock buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on NVDA shares. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. The Goldman Sachs Group upped their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial lifted their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.