NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,446,547 shares of the computer hardware maker’s stock after selling 48,885 shares during the period. NVIDIA accounts for about 5.1% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 3rd largest holding. Prio Wealth Limited Partnership’s holdings in NVIDIA were worth $175,669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the 1st quarter valued at about $27,000. TCTC Holdings LLC acquired a new stake in shares of NVIDIA in the 1st quarter valued at about $82,000. Delos Wealth Advisors LLC grew its stake 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 valued at $101,000 after buying an additional 96 shares during the period. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at about $25,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,986 shares of company stock worth $254,885,999. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.2 %

NVIDIA stock opened at $135.34 on Thursday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.26, a P/E/G 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. The firm has a 50 day simple moving average of $135.26 and a 200 day simple moving average of $123.26.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating 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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the business earned $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVDA shares. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

About NVIDIA

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.