Guardian Capital LP Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Guardian Capital LP reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDAGet Rating) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,732 shares of the computer hardware maker’s stock after selling 1,210 shares during the period. Guardian Capital LP’s holdings in NVIDIA were worth $1,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Opes Wealth Management LLC increased its holdings in NVIDIA by 1.8% during the first quarter. Opes Wealth Management LLC now owns 2,889 shares of the computer hardware maker’s stock valued at $788,000 after buying an additional 50 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of NVIDIA by 40.8% in the second quarter. Tortoise Investment Management LLC now owns 183 shares of the computer hardware maker’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its stake in shares of NVIDIA by 7.0% in the second quarter. Blue Bell Private Wealth Management LLC now owns 846 shares of the computer hardware maker’s stock worth $128,000 after purchasing an additional 55 shares in the last quarter. Gould Capital LLC increased its stake in shares of NVIDIA by 24.1% in the second quarter. Gould Capital LLC now owns 283 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 55 shares in the last quarter. Finally, D.B. Root & Company LLC increased its stake in shares of NVIDIA by 1.5% in the second quarter. D.B. Root & Company LLC now owns 3,739 shares of the computer hardware maker’s stock worth $566,000 after purchasing an additional 56 shares in the last quarter. 62.58% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ NVDA traded up $4.81 on Thursday, hitting $165.19. The company had a trading volume of 42,724,093 shares, compared to its average volume of 54,820,152. The company has a market capitalization of $411.32 billion, a PE ratio of 70.29, a PEG ratio of 5.94 and a beta of 1.70. The company’s fifty day moving average price is $133.63 and its 200-day moving average price is $155.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.39 and a quick ratio of 2.74. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $334.12.

NVIDIA (NASDAQ:NVDAGet Rating) last issued its quarterly earnings results on Wednesday, November 16th. The computer hardware maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.13). The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.82 billion. NVIDIA had a return on equity of 30.75% and a net margin of 20.85%. NVIDIA’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts predict that NVIDIA Co. will post 2.25 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, November 30th. NVIDIA’s payout ratio is 6.81%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 87,500 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the completion of the sale, the director now owns 2,310,193 shares of the company’s stock, valued at $276,414,592.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark A. Stevens sold 87,500 shares of the company’s stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $119.65, for a total value of $10,469,375.00. Following the completion of the sale, the director now owns 2,310,193 shares of the company’s stock, valued at $276,414,592.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 85,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $116.49, for a total transaction of $9,901,650.00. Following the completion of the sale, the director now directly owns 2,397,693 shares of the company’s stock, valued at approximately $279,307,257.57. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NVDA shares. Truist Financial reiterated a “buy” rating and set a $198.00 price objective on shares of NVIDIA in a research report on Thursday, September 22nd. Oppenheimer lowered their target price on shares of NVIDIA from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, November 11th. Raymond James lowered their target price on shares of NVIDIA from $210.00 to $190.00 and set a “strong-buy” rating for the company in a report on Thursday, November 17th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Wednesday, November 16th. Finally, Robert W. Baird decreased their price objective on shares of NVIDIA from $150.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.09.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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