NVIDIA Co. (NASDAQ:NVDA) is Leavell Investment Management Inc.’s Largest Position

Leavell Investment Management Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,052,425 shares of the computer hardware maker’s stock after selling 17,087 shares during the period. NVIDIA accounts for 6.4% of Leavell Investment Management Inc.’s portfolio, making the stock its biggest position. Leavell Investment Management Inc.’s holdings in NVIDIA were worth $127,817,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Hoertkorn Richard Charles grew its position in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the period. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the period. Total Wealth Planning LLC lifted its position in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in shares of NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares during the period. Finally, Pavion Blue Capital LLC increased its holdings in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after acquiring an additional 80 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $139.67 on Tuesday. The company has a market cap of $3.42 trillion, a PE ratio of 54.97, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52-week low of $47.32 and a 52-week 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 firm’s 50 day moving average price is $139.63 and its 200-day moving average price is $127.36.

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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley upped their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.