Long Run Wealth Advisors LLC Has $9.19 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Long Run Wealth Advisors LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,685 shares of the computer hardware maker’s stock after selling 6,409 shares during the period. NVIDIA accounts for 2.2% of Long Run Wealth Advisors LLC’s holdings, making the stock its 13th largest holding. Long Run Wealth Advisors LLC’s holdings in NVIDIA were worth $9,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the third quarter worth approximately $27,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter worth approximately $26,000. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the 2nd quarter valued at $31,000. Finally, Gleason Group Inc. grew its holdings in NVIDIA by 900.0% in the 2nd quarter. Gleason Group Inc. now owns 280 shares of the computer hardware maker’s stock valued at $35,000 after buying an additional 252 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 1.4 %

Shares of NASDAQ NVDA opened at $130.68 on Friday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month 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 cap of $3.20 trillion, a PE ratio of 51.43, a P/E/G ratio of 2.43 and a beta of 1.63. The company’s fifty day simple moving average is $139.63 and its 200 day simple moving average is $127.11.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 company 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. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Barclays raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.