Sonata Capital Group Inc. Has $839,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sonata Capital Group Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 27.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,912 shares of the computer hardware maker’s stock after selling 2,631 shares during the quarter. Sonata Capital Group Inc.’s holdings in NVIDIA were worth $839,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lantz Financial LLC increased its stake in NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares during the period. FLC Capital Advisors increased its position in shares of NVIDIA by 977.2% during the second quarter. FLC Capital Advisors now owns 24,560 shares of the computer hardware maker’s stock valued at $3,034,000 after purchasing an additional 22,280 shares during the period. Sterling Group Wealth Management LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $315,000. Chatham Capital Group Inc. raised its stake in shares of NVIDIA by 899.0% in the second quarter. Chatham Capital Group Inc. now owns 221,464 shares of the computer hardware maker’s stock valued at $27,360,000 after purchasing an additional 199,295 shares in the last quarter. Finally, Guardian Asset Advisors LLC lifted its position in NVIDIA by 1,068.3% in the second quarter. Guardian Asset Advisors LLC now owns 52,656 shares of the computer hardware maker’s stock worth $6,505,000 after purchasing an additional 48,149 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value 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. Insiders sold a total of 1,391,886 shares of company stock worth $181,666,050 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $139.67 on Tuesday. The stock has a market cap of $3.42 trillion, a P/E ratio of 54.97, a price-to-earnings-growth ratio of 2.43 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 stock’s 50-day moving average price is $139.63 and its two-hundred day moving average price is $127.36. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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, 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Bank of America reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.