Ayrshire Capital Management LLC Sells 1,136 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ayrshire Capital Management LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,853 shares of the computer hardware maker’s stock after selling 1,136 shares during the period. Ayrshire Capital Management LLC’s holdings in NVIDIA were worth $468,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at $30,000. TCTC Holdings LLC bought a new stake in NVIDIA during the first quarter worth about $82,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after acquiring an additional 96 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA 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 completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction 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 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 3.3 %

NVDA opened at $141.98 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.48 trillion, a P/E ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66. The company’s 50 day moving average is $130.18 and its 200-day moving average is $119.70.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. Equities research analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. Mizuho boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday. DA Davidson restated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, HSBC upped their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA 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.