Selective Wealth Management Inc. Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Selective Wealth Management Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,289 shares of the computer hardware maker’s stock after selling 1,315 shares during the quarter. Selective Wealth Management Inc.’s holdings in NVIDIA were worth $1,102,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter valued at $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA during the 1st quarter worth about $30,000. TCTC Holdings LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $82,000. Finally, Slocum Gordon & Co LLP purchased a new position in shares of NVIDIA in the 1st quarter valued at about $98,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was 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 $577,611,810.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler raised their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday. Robert W. Baird upped their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, HSBC raised their target price on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five investment 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 stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

NVIDIA Stock Down 1.6 %

NVDA opened at $145.26 on Tuesday. 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 Co. has a 12 month low of $45.01 and a 12 month high of $149.77. The stock has a market capitalization of $3.56 trillion, a P/E ratio of 68.20, a P/E/G ratio of 1.56 and a beta of 1.66. The business has a 50 day simple moving average of $127.27 and a 200-day simple moving average of $118.46.

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

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

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

NVIDIA Company Profile

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.