Cary Street Partners Asset Management LLC Has $3.30 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Cary Street Partners Asset Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,169 shares of the computer hardware maker’s stock after selling 299 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in NVIDIA were worth $3,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alterna Wealth Management Inc. increased its holdings in shares of NVIDIA by 22.7% during the 3rd quarter. Alterna Wealth Management Inc. now owns 8,544 shares of the computer hardware maker’s stock worth $1,038,000 after acquiring an additional 1,579 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in NVIDIA by 18.6% during the third quarter. Moloney Securities Asset Management LLC now owns 136,142 shares of the computer hardware maker’s stock worth $16,533,000 after purchasing an additional 21,395 shares during the period. Legacy CG LLC increased its holdings in shares of NVIDIA by 1,194.7% in the third quarter. Legacy CG LLC now owns 38,789 shares of the computer hardware maker’s stock valued at $4,711,000 after purchasing an additional 35,793 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of NVIDIA by 13.2% during the 3rd quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock worth $667,278,000 after buying an additional 640,840 shares during the last quarter. Finally, Arlington Capital Management Inc. boosted its holdings in shares of NVIDIA by 2.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 62,318 shares of the computer hardware maker’s stock worth $7,568,000 after buying an additional 1,512 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 1.1 %

Shares of NVDA stock opened at $128.91 on Thursday. The stock’s fifty day simple moving average is $139.72 and its 200 day simple moving average is $127.08. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The firm has a market capitalization of $3.16 trillion, a P/E ratio of 50.73, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding 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 typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock valued at $209,985,077 over the last 90 days. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Citigroup lifted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barclays upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Susquehanna lifted their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four equities 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. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus 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.