NVIDIA Co. (NASDAQ:NVDA) Stake Lessened by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,731 shares of the computer hardware maker’s stock after selling 1,498 shares during the period. NVIDIA makes up about 0.3% of Nicholas Hoffman & Company LLC.’s portfolio, making the stock its 26th largest holding. Nicholas Hoffman & Company LLC.’s holdings in NVIDIA were worth $7,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Legal & General Group Plc lifted its position in shares of NVIDIA by 884.0% during 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 acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its stake in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after acquiring an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Benchmark raised their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. DA Davidson upped their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Bank of America reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Trading Down 2.7 %

Shares of NVDA opened at $135.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm’s 50 day simple moving average is $138.51 and its 200 day simple moving average is $126.04. NVIDIA Co. has a 1-year low of $45.83 and a 1-year high of $152.89. The company has a market capitalization of $3.31 trillion, a P/E ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63.

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

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 in the last 90 days. Company 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.