Sigma Investment Counselors Inc. Sells 3,337 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sigma Investment Counselors Inc. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,462 shares of the computer hardware maker’s stock after selling 3,337 shares during the period. NVIDIA accounts for approximately 1.1% of Sigma Investment Counselors Inc.’s holdings, making the stock its 20th largest holding. Sigma Investment Counselors Inc.’s holdings in NVIDIA were worth $23,130,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in 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 buying an additional 13,135 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of NVIDIA by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 25,275 shares of the computer hardware maker’s stock valued at $22,837,000 after purchasing an additional 1,104 shares during the last quarter. Waverly Advisors LLC lifted its position in shares of NVIDIA by 48.0% in the first quarter. Waverly Advisors LLC now owns 18,816 shares of the computer hardware maker’s stock worth $17,001,000 after purchasing an additional 6,102 shares in the last quarter. Benchmark Investment Advisors LLC boosted its holdings in NVIDIA by 350.8% during the first quarter. Benchmark Investment Advisors LLC now owns 26,559 shares of the computer hardware maker’s stock worth $23,997,000 after purchasing an additional 20,668 shares during the last quarter. Finally, BTG Pactual Global Asset Management Ltd grew its position in NVIDIA by 74.7% in the first quarter. BTG Pactual Global Asset Management Ltd now owns 10,621 shares of the computer hardware maker’s stock valued at $9,597,000 after purchasing an additional 4,541 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $145.06 on Friday. The stock has a market cap of $3.55 trillion, a PE ratio of 57.11, a P/E/G ratio of 2.54 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.41 and a 12-month high of $152.89. The business’s 50-day moving average price is $137.74 and its two-hundred day moving average price is $125.04.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued 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 payout ratio is presently 1.57%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Sanford C. Bernstein boosted their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.