GUNN & Co INVESTMENT MANAGEMENT INC. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

GUNN & Co INVESTMENT MANAGEMENT INC. reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 47.3% during the 3rd quarter, Holdings Channel reports. The fund owned 8,870 shares of the computer hardware maker’s stock after selling 7,956 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in NVIDIA were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global Assets Advisory LLC acquired a new position in shares of NVIDIA in the 3rd quarter valued at $9,912,000. Franklin Parlapiano Turner & Welch LLC increased its position in shares of NVIDIA by 46.2% during the third quarter. Franklin Parlapiano Turner & Welch LLC now owns 5,254 shares of the computer hardware maker’s stock worth $638,000 after purchasing an additional 1,660 shares in the last quarter. Grey Fox Wealth Advisors LLC grew its stake in NVIDIA by 15.5% during the 3rd quarter. Grey Fox Wealth Advisors LLC now owns 7,082 shares of the computer hardware maker’s stock valued at $860,000 after acquiring an additional 950 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in shares of NVIDIA by 27.8% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 6,812 shares of the computer hardware maker’s stock valued at $827,000 after purchasing an additional 1,482 shares during the last quarter. Finally, YHB Investment Advisors Inc. raised its holdings in shares of NVIDIA by 0.9% during the 3rd quarter. YHB Investment Advisors Inc. now owns 229,781 shares of the computer hardware maker’s stock worth $27,905,000 after acquiring an additional 1,944 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,916,986 shares of company stock valued at $227,311,199 in the last 90 days. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Up 0.3 %

NASDAQ:NVDA opened at $138.63 on Tuesday. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 54.58, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $152.89. The stock has a fifty day moving average price of $136.05 and a two-hundred day moving average price of $124.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on NVDA. Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Benchmark raised their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, DA Davidson upped their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.