Northwest Investment Counselors LLC Sells 235 Shares of NVIDIA Co. (NASDAQ:NVDA)

Northwest Investment Counselors LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 42,779 shares of the computer hardware maker’s stock after selling 235 shares during the quarter. NVIDIA comprises 1.2% of Northwest Investment Counselors LLC’s portfolio, making the stock its 19th biggest position. Northwest Investment Counselors LLC’s holdings in NVIDIA were worth $5,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 acquiring an additional 13,135 shares during the last quarter. Delos Wealth Advisors LLC raised its position in 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 purchasing an additional 96 shares during the last quarter. Socha Financial Group LLC bought a new position in NVIDIA in the 1st quarter worth approximately $352,000. Forum Financial Management LP raised its position in NVIDIA by 1.0% in the 1st quarter. Forum Financial Management LP now owns 15,955 shares of the computer hardware maker’s stock worth $14,417,000 after purchasing an additional 163 shares during the last quarter. Finally, GM Advisory Group LLC raised its position in NVIDIA by 5.0% in the 1st quarter. GM Advisory Group LLC now owns 26,430 shares of the computer hardware maker’s stock worth $23,881,000 after purchasing an additional 1,261 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $135.34 on Thursday. The firm has a market cap of $3.31 trillion, a PE ratio of 53.26, a PEG ratio of 2.46 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a fifty day moving average price of $135.26 and a 200 day moving average price of $123.26.

NVIDIA (NASDAQ:NVDA) last announced 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI boosted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Truist Financial lifted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,986 shares of company stock valued at $254,885,999 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

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.