NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,783,805 shares of the computer hardware maker’s stock after selling 5,736 shares during the period. NVIDIA makes up approximately 14.5% of Greenwich Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Greenwich Wealth Management LLC’s holdings in NVIDIA were worth $216,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC purchased a new stake in NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter worth $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in NVIDIA during the 2nd quarter worth $31,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 2.2 %

NVIDIA stock opened at $134.25 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The firm’s 50 day moving average price is $139.76 and its two-hundred day moving average price is $126.77.

NVIDIA (NASDAQ:NVDA) last posted 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 analyst estimates of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

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

NVIDIA Dividend Announcement

The company also recently disclosed 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 payout ratio is 1.57%.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,156 shares of company stock worth $197,995,077. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Wedbush raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

About NVIDIA

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.