NVIDIA Co. (NASDAQ:NVDA) Stake Lessened by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,270 shares of the computer hardware maker’s stock after selling 27,681 shares during the period. NVIDIA accounts for approximately 4.9% of Patton Albertson Miller Group LLC’s portfolio, making the stock its largest position. Patton Albertson Miller Group LLC’s holdings in NVIDIA were worth $36,101,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Lantz Financial LLC raised its holdings in 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. Ironwood Wealth Management LLC. grew its position in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after buying an additional 5,695 shares during the period. Charter Oak Capital Management LLC lifted its holdings in shares of NVIDIA by 885.8% during the second quarter. Charter Oak Capital Management LLC now owns 8,882 shares of the computer hardware maker’s stock valued at $1,097,000 after purchasing an additional 7,981 shares during the last quarter. CV Advisors LLC boosted its position in shares of NVIDIA by 862.1% in the 2nd quarter. CV Advisors LLC now owns 101,808 shares of the computer hardware maker’s stock worth $12,577,000 after purchasing an additional 91,226 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in shares of NVIDIA by 925.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 139,739 shares of the computer hardware maker’s stock worth $17,263,000 after buying an additional 126,106 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NVDA. JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. UBS Group boosted their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research note on Wednesday. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Down 3.0 %

Shares of NVDA stock opened at $135.91 on Friday. The company’s fifty day simple moving average is $139.90 and its two-hundred day simple moving average is $128.68. NVIDIA Co. has a 52 week low of $53.56 and a 52 week high of $153.13. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. 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 (NASDAQ:NVDA) last announced its quarterly earnings results 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 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 analyst estimates of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

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.