Schmidt P J Investment Management Inc. Sells 2,924 Shares of NVIDIA Co. (NASDAQ:NVDA)

Schmidt P J Investment Management Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 56,290 shares of the computer hardware maker’s stock after selling 2,924 shares during the quarter. NVIDIA comprises 1.2% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 27th largest position. Schmidt P J Investment Management Inc.’s holdings in NVIDIA were worth $6,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter worth about $27,000. Finally, Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total value of $12,892,800.00. Following the completion of the transaction, the chief executive officer now directly owns 76,135,836 shares in the company, valued at approximately $8,180,034,219.84. This represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the 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 owns 5,852,480 shares of the company’s stock, valued at approximately $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 1,916,986 shares of company stock worth $227,311,199. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $140.26 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The firm has a 50 day simple moving average of $136.89 and a 200 day simple moving average of $124.75. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.20, a PEG ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $33.15 billion. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue was up 93.6% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.