Townsend Asset Management Corp NC ADV Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Townsend Asset Management Corp NC ADV cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 24,267 shares of the computer hardware maker’s stock after selling 503 shares during the quarter. NVIDIA makes up approximately 1.1% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 29th biggest holding. Townsend Asset Management Corp NC ADV’s holdings in NVIDIA were worth $2,947,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares in the last quarter. Poehling Capital Management INC. grew its stake in NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after buying an additional 14 shares during the last quarter. FSA Wealth Management LLC increased its position in NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares in the last quarter. Clean Yield Group boosted its holdings in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after acquiring an additional 15 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in shares of NVIDIA by 1.5% during the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock worth $1,024,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $135.34 on Friday. The company has a fifty day moving average of $135.61 and a two-hundred day moving average of $123.34. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The stock has a market capitalization of $3.31 trillion, a PE ratio of 53.28, a P/E/G ratio of 2.46 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company 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 $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has initiated a share 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 purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. DA Davidson raised their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. TD Cowen boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Craig Hallum boosted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were 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 owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % 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 company’s stock in a transaction on 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 sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. Insiders own 4.23% of the company’s stock.

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.