ORG Partners LLC Sells 23,951 Shares of NVIDIA Co. (NASDAQ:NVDA)

ORG Partners LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 29.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,289 shares of the computer hardware maker’s stock after selling 23,951 shares during the quarter. NVIDIA makes up about 1.1% of ORG Partners LLC’s investment portfolio, making the stock its 21st largest holding. ORG Partners LLC’s holdings in NVIDIA were worth $7,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp lifted its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP grew its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 3.3 %

NASDAQ NVDA opened at $141.98 on Friday. The firm has a market cap of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a 50-day moving average of $130.97 and a 200-day moving average of $120.08. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its 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 company had revenue of $30.04 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given 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 currently 1.88%.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVDA. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $152.40.

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.