Hodges Capital Management Inc. Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hodges Capital Management Inc. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,767 shares of the computer hardware maker’s stock after selling 150 shares during the period. Hodges Capital Management Inc.’s holdings in NVIDIA were worth $1,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of NVIDIA by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 49,018,971 shares of the computer hardware maker’s stock valued at $18,622,797,000 after buying an additional 479,795 shares during the last quarter. BlackRock Inc. boosted its stake in NVIDIA by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,602,920 shares of the computer hardware maker’s stock valued at $16,565,183,000 after purchasing an additional 849,675 shares during the period. Bank of New York Mellon Corp boosted its stake in NVIDIA by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,571,883 shares of the computer hardware maker’s stock valued at $2,496,723,000 after purchasing an additional 364,122 shares during the period. GQG Partners LLC boosted its stake in NVIDIA by 24.7% during the 2nd quarter. GQG Partners LLC now owns 4,699,573 shares of the computer hardware maker’s stock valued at $1,785,779,000 after purchasing an additional 929,423 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in NVIDIA by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,894,465 shares of the computer hardware maker’s stock valued at $762,981,000 after purchasing an additional 34,306 shares during the period. 68.11% of the stock is owned by institutional investors.

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of NVIDIA from $380.00 to $507.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 20th. They noted that the move was a valuation call. New Street Research lowered shares of NVIDIA from a “neutral” rating to a “sell” rating and set a $400.00 price target for the company. in a research note on Thursday, October 8th. BofA Securities upped their price target on shares of NVIDIA from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Barclays upped their price target on shares of NVIDIA from $450.00 to $525.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Royal Bank of Canada upped their price target on shares of NVIDIA from $528.00 to $610.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $521.49.

Shares of NVIDIA stock opened at $552.46 on Friday. The stock has a market capitalization of $340.87 billion, a P/E ratio of 101.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.55. The company has a quick ratio of 5.51, a current ratio of 6.09 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $521.45 and a 200 day simple moving average of $401.87. NVIDIA Co. has a 12-month low of $180.68 and a 12-month high of $589.07.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.21. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 6.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Wednesday, September 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, September 1st. NVIDIA’s dividend payout ratio is currently 13.94%.

In other NVIDIA news, CEO Jen Hsun Huang sold 49,999 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $550.51, for a total transaction of $27,524,949.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen C. Neal acquired 435 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were bought at an average cost of $498.23 per share, for a total transaction of $216,730.05. Following the acquisition, the director now owns 3,963 shares in the company, valued at $1,974,485.49. The disclosure for this purchase can be found here. In the last three months, insiders have sold 173,320 shares of company stock worth $87,129,970. Insiders own 4.47% of the company’s stock.

NVIDIA Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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