Valley National Advisers Inc. Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Valley National Advisers Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 46.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,143 shares of the computer hardware maker’s stock after selling 23,028 shares during the period. Valley National Advisers Inc.’s holdings in NVIDIA were worth $3,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Hamilton Wealth LLC increased its stake in 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 acquiring an additional 9 shares during the last quarter. Clean Yield Group increased its stake in NVIDIA by 0.8% during 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 during the last quarter. Aspect Partners LLC increased its stake in NVIDIA by 5.6% during the first quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock worth $289,000 after acquiring an additional 17 shares during the last quarter. Cedar Point Capital Partners LLC increased its stake in NVIDIA by 6.0% during the first 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 last quarter. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NVDA shares. Mizuho lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Susquehanna lifted their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Barclays lifted their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

NASDAQ NVDA opened at $142.44 on Friday. NVIDIA Co. has a 1-year low of $45.60 and a 1-year high of $152.89. The company has a market capitalization of $3.49 trillion, a P/E ratio of 56.06, a PEG ratio of 2.62 and a beta of 1.63. The business has a 50 day moving average price of $138.16 and a 200 day moving average price of $125.58. 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 (NASDAQ:NVDA) last released its quarterly earnings data 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 return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during 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. Sell-side analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

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.