GoalFusion Wealth Management LLC Sells 375 Shares of NVIDIA Co. (NASDAQ:NVDA)

GoalFusion Wealth Management LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% during the third quarter, HoldingsChannel reports. The fund owned 5,208 shares of the computer hardware maker’s stock after selling 375 shares during the quarter. NVIDIA comprises about 0.4% of GoalFusion Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. GoalFusion Wealth Management LLC’s holdings in NVIDIA were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Privium Fund Management UK Ltd bought a new position in shares of NVIDIA in the first quarter worth $2,635,000. Monument Capital Management increased its holdings in shares of NVIDIA by 1.8% in the first quarter. Monument Capital Management now owns 1,853 shares of the computer hardware maker’s stock worth $1,674,000 after purchasing an additional 33 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of NVIDIA by 6.0% in the first quarter. Sivia Capital Partners LLC now owns 6,605 shares of the computer hardware maker’s stock worth $5,968,000 after purchasing an additional 372 shares during the period. Tradewinds Capital Management LLC increased its holdings in shares of NVIDIA by 40.1% in the first quarter. Tradewinds Capital Management LLC now owns 937 shares of the computer hardware maker’s stock worth $847,000 after purchasing an additional 268 shares during the period. Finally, Carret Asset Management LLC increased its holdings in shares of NVIDIA by 6.9% in the first quarter. Carret Asset Management LLC now owns 4,928 shares of the computer hardware maker’s stock worth $4,453,000 after purchasing an additional 320 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,276,270 shares of company stock worth $267,363,927. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Needham & Company LLC upped their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Bank of America upped their target price on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Robert W. Baird upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

NVDA stock opened at $145.61 on Thursday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $146.49. The company has a market cap of $3.57 trillion, a P/E ratio of 68.36, a PEG ratio of 1.43 and a beta of 1.66. The firm has a 50-day moving average of $126.08 and a 200 day moving average of $117.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

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.