Jmac Enterprises LLC Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Jmac Enterprises LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,805 shares of the computer hardware maker’s stock after selling 2,894 shares during the period. NVIDIA accounts for 1.4% of Jmac Enterprises LLC’s portfolio, making the stock its 19th biggest holding. Jmac Enterprises LLC’s holdings in NVIDIA were worth $8,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVDA. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter valued at $31,000. Finally, FPC Investment Advisory Inc. increased its holdings in NVIDIA by 900.0% in the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NVDA. Needham & Company LLC increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. HSBC upped their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup raised their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 3.1 %

NASDAQ NVDA opened at $134.70 on Friday. 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. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company’s 50-day simple moving average is $139.63 and its two-hundred day simple moving average is $127.32.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be 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 is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA 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.