NVIDIA Co. (NASDAQ:NVDA) Stake Lowered by Scott & Selber Inc.

Scott & Selber Inc. cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,180 shares of the computer hardware maker’s stock after selling 1,617 shares during the period. NVIDIA makes up about 8.0% of Scott & Selber Inc.’s portfolio, making the stock its 2nd biggest holding. Scott & Selber Inc.’s holdings in NVIDIA were worth $25,767,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter worth about $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the 2nd quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. increased its position in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVDA. Sanford C. Bernstein raised their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Susquehanna lifted their price target 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. Citigroup increased their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $140.22 on Wednesday. The company has a market capitalization of $3.43 trillion, a PE ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a 50-day simple moving average of $139.66 and a two-hundred day simple moving average of $127.49. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. 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 posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. Research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed 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. 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 payout ratio is 1.57%.

NVIDIA declared that its board has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last ninety days. 4.23% of the stock is owned by insiders.

About NVIDIA

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.