4,838 NVIDIA Corporation $NVDA Shares Sold by Peddock Capital Advisors LLC

Key Points

• Peddock Capital Advisors cut its NVIDIA stake by 4,838 shares, or 1.5%, in the third quarter, but still held 319,571 shares worth about $73 million. NVIDIA remained the fund’s largest holding, accounting for 14.4% of its portfolio.
• NVIDIA reported quarterly EPS of $2.22 and revenue of $96.22 billion, exceeding analyst estimates; revenue rose 105.9% year over year.
• The company approved a $150 billion share repurchase plan, authorizing buybacks of up to 2.8% of outstanding shares. The article also noted mixed analyst ratings and that institutional investors owned 65.27% of the stock.

Peddock Capital Advisors LLC trimmed its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 319,571 shares of the computer hardware maker's stock after selling 4,838 shares during the period. NVIDIA comprises approximately 14.4% of Peddock Capital Advisors LLC's holdings, making the stock its largest holding. Peddock Capital Advisors LLC's holdings in NVIDIA were worth $72,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC boosted its holdings in NVIDIA by 1.2% in the second quarter. Retirement Wealth Solutions LLC now owns 4,121 shares of the computer hardware maker's stock valued at $825,000 after acquiring an additional 47 shares during the last quarter. LightSquare Wealth Management LLC boosted its position in shares of NVIDIA by 0.3% in the 2nd quarter. LightSquare Wealth Management LLC now owns 18,695 shares of the computer hardware maker's stock worth $3,741,000 after purchasing an additional 49 shares during the last quarter. Defender Capital LLC. boosted its position in shares of NVIDIA by 0.7% in the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker's stock worth $1,507,000 after purchasing an additional 50 shares during the last quarter. Kooman & Associates boosted its position in shares of NVIDIA by 0.6% in the 2nd quarter. Kooman & Associates now owns 8,464 shares of the computer hardware maker's stock worth $1,694,000 after purchasing an additional 50 shares during the last quarter. Finally, Roof Eidam Maycock Peralta LLC grew its stake in shares of NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 18,827 shares of the computer hardware maker's stock worth $3,767,000 after purchasing an additional 50 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 4.3%

NVDA stock opened at $166.19 on Friday. The stock has a market cap of $4.01 trillion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.34 and a beta of 2.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The company has a fifty day moving average price of $215.96 and a two-hundred day moving average price of $204.25. NVIDIA Corporation has a one year low of $148.80 and a one year high of $243.37.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business's revenue was up 105.9% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Corporation will post 9.29 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, September 10th. NVIDIA's payout ratio is 12.64%.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Monday, September 28th that allows the company to repurchase $150 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Latest NVIDIA News

Here's some of the latest news about NVDA:

• Neutral Sentiment: Kress’s experience as CFO and the board’s assurance that customer commitments and the product roadmap will continue provide some operational continuity, though she is serving only on an interim basis. NVIDIA’s fiscal Q3 report on Nov. 17 is the next key test for demand, guidance and confidence in the transition. Article: Colette Kress named interim CEO
• Negative Sentiment: Huang’s departure raises key-person and succession concerns after 33 years at the helm. The surrounding allegations and scrutiny—including questions about possible chip diversion to China—could invite tighter export controls and damage investor confidence; these claims remain under investigation and are not established findings. Article: Jensen Huang steps down
• Negative Sentiment: Several analysts downgraded the stock or cut price targets, citing leadership, governance and China-related risks. A securities class action adds another source of uncertainty for shareholders. Article: Nvidia Stock Just Got Downgraded

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Raymond James Financial upgraded NVIDIA from an "outperform" rating to a "strong-buy" rating in a report on Wednesday. StoneX cut NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday. Wedbush set a $345.00 target price on NVIDIA and gave the stock an "outperform" rating in a research report on Thursday. Rothschild & Co Redburn upped their price target on NVIDIA from $300.00 to $325.00 in a research note on Thursday, August 27th. Finally, BNP Paribas Exane reaffirmed an "outperform" rating and issued a $345.00 price target on shares of NVIDIA in a research note on Monday, October 5th. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average price target of $283.63.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 34,918 shares of the business's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total value of $7,648,787.90. Following the transaction, the chief financial officer owned 765,103 shares in the company, valued at $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy S. Teter sold 30,460 shares of the business's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the transaction, the executive vice president directly owned 2,687,660 shares in the company, valued at $598,810,648. This represents a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. Company insiders own 3.94% of the company's stock.

About NVIDIA

NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA's offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.

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