St. Johns Investment Management Company LLC Sells 3,756 Shares of NVIDIA Co. (NASDAQ:NVDA)

St. Johns Investment Management Company LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,387 shares of the computer hardware maker’s stock after selling 3,756 shares during the period. NVIDIA accounts for approximately 1.6% of St. Johns Investment Management Company LLC’s holdings, making the stock its 16th biggest position. St. Johns Investment Management Company LLC’s holdings in NVIDIA were worth $3,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BKM Wealth Management LLC purchased a new position in NVIDIA during the third quarter valued at $673,000. Parcion Private Wealth LLC increased its holdings in shares of NVIDIA by 24.1% during the third quarter. Parcion Private Wealth LLC now owns 227,184 shares of the computer hardware maker’s stock valued at $27,589,000 after acquiring an additional 44,153 shares in the last quarter. Smith & Howard Wealth Management LLC raised its position in shares of NVIDIA by 1.6% in the 3rd quarter. Smith & Howard Wealth Management LLC now owns 7,741 shares of the computer hardware maker’s stock worth $940,000 after purchasing an additional 121 shares during the last quarter. Highland Capital Management LLC boosted its stake in NVIDIA by 21.1% in the 3rd quarter. Highland Capital Management LLC now owns 325,367 shares of the computer hardware maker’s stock worth $39,513,000 after purchasing an additional 56,778 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. increased its stake in NVIDIA by 11.5% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 2,900 shares of the computer hardware maker’s stock valued at $352,000 after purchasing an additional 300 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $145.06 on Friday. The company has a market cap of $3.55 trillion, a P/E ratio of 57.11, a P/E/G ratio of 2.54 and a beta of 1.63. The business’s 50 day moving average price is $137.74 and its 200-day moving average price is $125.04. NVIDIA Co. has a fifty-two week low of $45.41 and a fifty-two week high of $152.89. 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 announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Raymond James increased their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, DA Davidson lifted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four investment 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 company’s stock. According to MarketBeat.com, NVIDIA currently 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 the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is currently owned by company insiders.

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.