Umpqua Bank Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Umpqua Bank lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 23.6% in the third quarter, HoldingsChannel reports. The firm owned 80,235 shares of the computer hardware maker’s stock after selling 24,741 shares during the period. NVIDIA makes up approximately 3.6% of Umpqua Bank’s holdings, making the stock its 6th largest holding. Umpqua Bank’s holdings in NVIDIA were worth $9,744,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. increased its stake in shares of NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares in the last quarter. Truepoint Inc. raised its stake in shares of NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares during the period. Blue Square Asset Management LLC lifted its position in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management grew its stake in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Dabiri sold 716 shares of the company’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 completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,556,986 shares of company stock worth $201,687,727. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on NVDA shares. TD Cowen lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. HSBC increased their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. DA Davidson upped their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. 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 stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Up 3.1 %

NASDAQ:NVDA opened at $134.70 on Friday. The stock has a fifty day simple moving average of $139.63 and a 200-day simple moving average of $127.25. 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 company has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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 business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

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.