Janney Capital Management LLC Sells 1,187 Shares of NVIDIA Co. (NASDAQ:NVDA)

Janney Capital Management LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 106,397 shares of the computer hardware maker’s stock after selling 1,187 shares during the quarter. Janney Capital Management LLC’s holdings in NVIDIA were worth $12,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Lantz Financial LLC increased its stake in shares of NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Simplicity Wealth LLC increased its stake in shares of NVIDIA by 849.7% in the second quarter. Simplicity Wealth LLC now owns 679,698 shares of the computer hardware maker’s stock worth $83,970,000 after purchasing an additional 608,125 shares in the last quarter. Gill Capital Partners LLC increased its stake in shares of NVIDIA by 948.8% in the second quarter. Gill Capital Partners LLC now owns 18,061 shares of the computer hardware maker’s stock worth $2,231,000 after purchasing an additional 16,339 shares in the last quarter. Founders Capital Management increased its stake in shares of NVIDIA by 1,226.9% in the second quarter. Founders Capital Management now owns 690 shares of the computer hardware maker’s stock worth $85,000 after purchasing an additional 638 shares in the last quarter. Finally, Selective Wealth Management Inc. increased its stake in shares of NVIDIA by 974.3% in the second quarter. Selective Wealth Management Inc. now owns 9,604 shares of the computer hardware maker’s stock worth $1,262,000 after purchasing an additional 8,710 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 2.2 %

Shares of NVIDIA stock opened at $134.25 on Monday. The firm’s 50 day moving average price is $139.76 and its 200-day moving average price is $126.77. 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 52-week low of $47.32 and a 52-week high of $152.89. The company has a market cap of $3.29 trillion, a P/E ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,628,156 shares of company stock valued at $197,995,077. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. TD Cowen lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Finally, Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.