Shearwater Capital LLC Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Shearwater Capital LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 55.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the computer hardware maker’s stock after selling 6,605 shares during the period. NVIDIA makes up approximately 0.5% of Shearwater Capital LLC’s holdings, making the stock its 24th largest holding. Shearwater Capital LLC’s holdings in NVIDIA were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Objectivity Squared LLC increased its stake in NVIDIA by 17.3% in the 3rd quarter. Objectivity Squared LLC now owns 9,514 shares of the computer hardware maker’s stock valued at $1,215,000 after purchasing an additional 1,401 shares in the last quarter. Tilia Fiduciary Partners Inc. grew its holdings in NVIDIA by 5.1% in the third quarter. Tilia Fiduciary Partners Inc. now owns 5,532 shares of the computer hardware maker’s stock valued at $672,000 after purchasing an additional 266 shares during the last quarter. First National Corp MA ADV grew its holdings in NVIDIA by 3.1% in the third quarter. First National Corp MA ADV now owns 12,863 shares of the computer hardware maker’s stock valued at $1,562,000 after purchasing an additional 389 shares during the last quarter. Eagle Wealth Strategies LLC increased its position in shares of NVIDIA by 10.4% in the third quarter. Eagle Wealth Strategies LLC now owns 9,334 shares of the computer hardware maker’s stock valued at $1,133,000 after buying an additional 883 shares in the last quarter. Finally, Barlow Wealth Partners Inc. raised its stake in shares of NVIDIA by 79.9% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 126,397 shares of the computer hardware maker’s stock worth $16,143,000 after buying an additional 56,147 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 0.8 %

NASDAQ:NVDA opened at $147.63 on Monday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The business’s 50-day moving average is $127.27 and its two-hundred day moving average is $118.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market capitalization of $3.62 trillion, a PE ratio of 69.31, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has approved a share buyback program 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 programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho raised their target price on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.