NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 148,110 shares of the computer hardware maker’s stock after selling 4,282 shares during the quarter. NVIDIA makes up about 10.8% of Capital Market Strategies LLC’s holdings, making the stock its biggest holding. Capital Market Strategies LLC’s holdings in NVIDIA were worth $17,987,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the 1st quarter worth approximately $27,000. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Benchmark reissued a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. UBS Group reiterated a “buy” rating and set a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. William Blair assumed coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, August 6th. Finally, TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

NASDAQ NVDA opened at $136.05 on Tuesday. NVIDIA Co. has a twelve month low of $44.90 and a twelve month high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.34 trillion, a P/E ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. The company’s 50-day simple moving average is $125.45 and its 200 day simple moving average is $116.60.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has approved a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,614,995 shares in the company, valued at $8,031,549,925.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $104.83, for a total value of $12,579,600.00. Following the sale, the chief executive officer now owns 76,614,995 shares in the company, valued at approximately $8,031,549,925.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,396,270 shares of company stock worth $279,825,927. 4.23% of the stock is currently owned by company insiders.

About NVIDIA

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.