ASB Consultores LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

ASB Consultores LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,285 shares of the computer hardware maker’s stock after selling 1,192 shares during the quarter. NVIDIA makes up approximately 1.2% of ASB Consultores LLC’s investment portfolio, making the stock its 14th biggest position. ASB Consultores LLC’s holdings in NVIDIA were worth $2,949,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% in the 2nd 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 increased its stake in NVIDIA by 854.1% in the 2nd 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. raised its holdings in shares of NVIDIA by 870.3% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% during the 2nd 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 acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $128.91 on Thursday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The business’s fifty day simple moving average is $139.72 and its 200-day simple moving average is $127.08. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.16 trillion, a PE ratio of 50.73, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,628,156 shares of company stock valued at $209,985,077. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Mizuho lifted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Barclays upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Melius Research raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.