NVIDIA Co. (NASDAQ:NVDA) is Frank Rimerman Advisors LLC’s 4th Largest Position

Frank Rimerman Advisors LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 496,030 shares of the computer hardware maker’s stock after selling 84,230 shares during the period. NVIDIA makes up approximately 4.3% of Frank Rimerman Advisors LLC’s holdings, making the stock its 4th largest holding. Frank Rimerman Advisors LLC’s holdings in NVIDIA were worth $60,238,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Clean Yield Group raised its holdings in NVIDIA by 0.8% in the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after purchasing an additional 15 shares during the period. Aspect Partners LLC lifted its position in shares of NVIDIA by 5.6% during the 1st quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock valued at $289,000 after buying an additional 17 shares in the last quarter. Cedar Point Capital Partners LLC raised its stake in NVIDIA by 6.0% during the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 28 shares during the period. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, HSBC raised their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred 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 transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,796,986 shares of company stock valued at $214,418,399. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $142.44 on Friday. The firm’s 50 day simple moving average is $137.74 and its 200-day simple moving average is $125.04. 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 Co. has a one year low of $45.60 and a one year high of $152.89. The firm has a market cap of $3.49 trillion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 2.54 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the business posted $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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 dividend of $0.01 per share. 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 payout ratio is 1.57%.

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

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.