PBMares Wealth Management LLC Sells 1,093 Shares of NVIDIA Co. (NASDAQ:NVDA)

PBMares Wealth Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 6.4% in the 3rd quarter, Holdings Channel reports. The firm owned 16,101 shares of the computer hardware maker’s stock after selling 1,093 shares during the quarter. PBMares Wealth Management LLC’s holdings in NVIDIA were worth $1,955,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hoertkorn Richard Charles increased its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares in the last quarter. Total Wealth Planning LLC increased its stake in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its position in shares of NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the last quarter. Pavion Blue Capital LLC grew its holdings in NVIDIA by 0.4% during the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares during the last quarter. Finally, L. Roy Papp & Associates LLP increased its position in NVIDIA by 2.5% during the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 2.7 %

NVDA opened at $135.07 on Wednesday. The firm’s 50 day moving average is $138.51 and its 200-day moving average is $126.04. NVIDIA Co. has a 52-week low of $45.83 and a 52-week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared 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 dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has approved a share 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,556,986 shares of company stock valued at $188,359,199. Insiders own 4.23% of the company’s stock.

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.