Green Alpha Advisors LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Green Alpha Advisors LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,240 shares of the computer hardware maker’s stock after selling 2,856 shares during the quarter. NVIDIA makes up 1.4% of Green Alpha Advisors LLC’s portfolio, making the stock its 24th biggest position. Green Alpha Advisors LLC’s holdings in NVIDIA were worth $1,729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. Privium Fund Management UK Ltd purchased a new position in shares of NVIDIA in the 1st quarter worth about $2,635,000. Lifestyle Asset Management Inc. increased its position in shares of NVIDIA by 246.9% during the first quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock valued at $1,812,000 after acquiring an additional 1,427 shares in the last quarter. OMNI 360 Wealth Inc. raised its holdings in NVIDIA by 6.0% in the 1st quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock worth $464,000 after acquiring an additional 29 shares during the last quarter. JTC Employer Solutions Trustee Ltd lifted its position in NVIDIA by 1.0% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock valued at $13,453,000 after acquiring an additional 150 shares in the last quarter. Finally, Trust Co. of Oklahoma increased its holdings in shares of NVIDIA by 2.7% in the 1st quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock worth $998,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 2.2 %

NVDA stock opened at $148.88 on Friday. The firm’s fifty day simple moving average is $126.08 and its two-hundred day simple moving average is $117.25. The stock has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $148.93.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now directly owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. HSBC lifted their price target on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Bank of America increased their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $143.07.

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.