NovaPoint Capital LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

NovaPoint Capital LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 50,590 shares of the computer hardware maker’s stock after selling 219 shares during the quarter. NVIDIA comprises about 1.9% of NovaPoint Capital LLC’s portfolio, making the stock its 9th largest holding. NovaPoint Capital LLC’s holdings in NVIDIA were worth $6,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chronos Wealth Management LLC lifted its holdings in shares of NVIDIA by 8.4% during the 3rd quarter. Chronos Wealth Management LLC now owns 1,827 shares of the computer hardware maker’s stock valued at $222,000 after purchasing an additional 142 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of NVIDIA by 13.5% in the third quarter. Capital Investment Advisors LLC now owns 349,268 shares of the computer hardware maker’s stock valued at $42,415,000 after buying an additional 41,677 shares in the last quarter. Blue Trust Inc. boosted its holdings in NVIDIA by 1,535.3% in the 3rd quarter. Blue Trust Inc. now owns 232,150 shares of the computer hardware maker’s stock worth $28,680,000 after buying an additional 217,954 shares during the last quarter. Meridian Financial Partners LLC lifted its stake in shares of NVIDIA by 7.9% in the third quarter. Meridian Financial Partners LLC now owns 23,587 shares of the computer hardware maker’s stock worth $2,864,000 after buying an additional 1,723 shares in the last quarter. Finally, IFG Advisors LLC increased its stake in shares of NVIDIA by 7.2% in the 3rd quarter. IFG Advisors LLC now owns 25,823 shares of the computer hardware maker’s stock worth $3,136,000 after acquiring an additional 1,736 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now directly owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 3.2 %

Shares of NVIDIA stock opened at $141.95 on Monday. The company has a fifty day moving average price of $134.01 and a 200 day moving average price of $122.51. 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 Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66.

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

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

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Susquehanna lifted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. William Blair began coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Finally, Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Four investment 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.