Altus Wealth Management LLC Sells 3,391 Shares of NVIDIA Co. (NASDAQ:NVDA)

Altus Wealth Management LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 24.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,452 shares of the computer hardware maker’s stock after selling 3,391 shares during the quarter. NVIDIA comprises about 0.6% of Altus Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Altus Wealth Management LLC’s holdings in NVIDIA were worth $1,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. boosted its stake in NVIDIA by 52.2% in 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 buying an additional 13,135 shares in the last quarter. Capital Square LLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $266,000. Verus Capital Partners LLC grew its holdings in shares of NVIDIA by 13.5% during the 1st quarter. Verus Capital Partners LLC now owns 34,637 shares of the computer hardware maker’s stock valued at $31,297,000 after purchasing an additional 4,113 shares during the last quarter. Inspire Advisors LLC increased its position in NVIDIA by 9.8% during the 1st quarter. Inspire Advisors LLC now owns 1,189 shares of the computer hardware maker’s stock worth $1,074,000 after purchasing an additional 106 shares in the last quarter. Finally, Delta Financial Advisors LLC increased its position in NVIDIA by 0.3% during the 1st quarter. Delta Financial Advisors LLC now owns 8,248 shares of the computer hardware maker’s stock worth $7,453,000 after purchasing an additional 25 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 other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $141.95 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The company’s fifty day moving average price is $134.01 and its two-hundred day moving average price is $122.28. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a stock buyback plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Analyst Ratings Changes

A number of research firms have weighed in on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. UBS Group lifted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.