Beaumont Financial Advisors LLC Sells 8,596 Shares of NVIDIA Co. (NASDAQ:NVDA)

Beaumont Financial Advisors LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 188,248 shares of the computer hardware maker’s stock after selling 8,596 shares during the period. NVIDIA accounts for approximately 1.8% of Beaumont Financial Advisors LLC’s portfolio, making the stock its 19th biggest holding. Beaumont Financial Advisors LLC’s holdings in NVIDIA were worth $22,861,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Albion Financial Group UT increased its stake in NVIDIA by 453.3% during the third quarter. Albion Financial Group UT now owns 302,029 shares of the computer hardware maker’s stock valued at $36,678,000 after acquiring an additional 247,444 shares during the period. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at about $27,000. Hoese & Co LLP increased its stake in NVIDIA by 900.0% during the third quarter. Hoese & Co LLP now owns 720 shares of the computer hardware maker’s stock valued at $87,000 after acquiring an additional 648 shares during the period. Colorado Capital Management Inc. increased its stake in NVIDIA by 2.6% during the third quarter. Colorado Capital Management Inc. now owns 5,439 shares of the computer hardware maker’s stock valued at $660,000 after acquiring an additional 138 shares during the period. Finally, Pinnacle Bancorp Inc. increased its stake in NVIDIA by 44.4% during the third quarter. Pinnacle Bancorp Inc. now owns 5,155 shares of the computer hardware maker’s stock valued at $626,000 after acquiring an additional 1,585 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, 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 completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $148.29 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The firm has a fifty day moving average of $127.79 and a two-hundred day moving average of $118.90. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 69.62, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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 given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. The Goldman Sachs Group lifted their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.