Wharton Business Group LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Wharton Business Group LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,266 shares of the computer hardware maker’s stock after selling 440 shares during the period. Wharton Business Group LLC’s holdings in NVIDIA were worth $1,854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. Quest Partners LLC acquired a new position in NVIDIA during the 2nd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the second quarter worth about $31,000. West Financial Advisors LLC bought a new position in NVIDIA in the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’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 of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226,886 shares of company stock worth $161,499,400 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $144.47 on Friday. NVIDIA Co. has a twelve month low of $47.51 and a twelve month high of $152.89. The business’s fifty day moving average is $139.57 and its 200-day moving average is $128.25. 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 company has a market cap of $3.54 trillion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Benchmark lifted their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic initiated 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, Morgan Stanley boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.