ARK Investment Management LLC Sells 45,239 Shares of NVIDIA Co. (NASDAQ:NVDA)

ARK Investment Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 10.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 372,448 shares of the computer hardware maker’s stock after selling 45,239 shares during the quarter. ARK Investment Management LLC’s holdings in NVIDIA were worth $45,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of NVIDIA in the third quarter worth approximately $3,495,000. Keynote Financial Services LLC boosted its stake in shares of NVIDIA by 37.3% during the 3rd quarter. Keynote Financial Services LLC now owns 5,409 shares of the computer hardware maker’s stock worth $657,000 after acquiring an additional 1,469 shares during the last quarter. Global Strategic Investment Solutions LLC grew its position in shares of NVIDIA by 5.9% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 21,681 shares of the computer hardware maker’s stock valued at $2,633,000 after acquiring an additional 1,208 shares during the period. JB Capital LLC increased its stake in shares of NVIDIA by 5.6% in the 3rd quarter. JB Capital LLC now owns 37,157 shares of the computer hardware maker’s stock worth $4,512,000 after purchasing an additional 1,983 shares in the last quarter. Finally, Keudell Morrison Wealth Management raised its holdings in NVIDIA by 0.6% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,706 shares of the computer hardware maker’s stock worth $2,515,000 after purchasing an additional 132 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 3.1 %

Shares of NASDAQ:NVDA opened at $134.70 on Monday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.30 trillion, a PE ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. The company’s 50-day moving average price is $139.63 and its 200 day moving average price is $127.32.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA declared that its Board of Directors has approved 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given 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 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 165,100 shares of NVIDIA 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 directly owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $201,687,727 over the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Stifel Nicolaus lifted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark lifted their target price 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. Finally, Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Four investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.