NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 63,387 shares of the computer hardware maker’s stock after selling 305 shares during the period. NVIDIA makes up approximately 5.2% of Successful Portfolios LLC’s investment portfolio, making the stock its 2nd biggest holding. Successful Portfolios LLC’s holdings in NVIDIA were worth $7,698,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Avior Wealth Management LLC increased its holdings in NVIDIA by 24.3% in the first quarter. Avior Wealth Management LLC now owns 27,179 shares of the computer hardware maker’s stock worth $24,558,000 after buying an additional 5,309 shares during the last quarter. Prosperity Consulting Group LLC raised its position in NVIDIA by 35.2% during the first quarter. Prosperity Consulting Group LLC now owns 5,533 shares of the computer hardware maker’s stock valued at $4,999,000 after acquiring an additional 1,440 shares in the last quarter. Financial Guidance Group Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $325,000. Finally, BOK Financial Private Wealth Inc. grew its position in NVIDIA by 28.1% in the first quarter. BOK Financial Private Wealth Inc. now owns 551 shares of the computer hardware maker’s stock worth $498,000 after acquiring an additional 121 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 2.1 %

NVIDIA stock opened at $148.29 on Wednesday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The firm’s 50-day simple moving average is $127.79 and its 200 day simple moving average is $118.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a market cap of $3.64 trillion, a PE ratio of 69.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. Research analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Morgan Stanley upped their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday. They issued a “buy” rating and a $178.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

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.