Atlas Wealth LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Atlas Wealth LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.6% in the third quarter, Holdings Channel.com reports. The fund owned 6,538 shares of the computer hardware maker’s stock after selling 539 shares during the quarter. Atlas Wealth LLC’s holdings in NVIDIA were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new position in NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 70.0% in 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 in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Melius Research lifted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Mizuho lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial lifted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Four equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.5 %

Shares of NASDAQ:NVDA opened at $136.32 on Thursday. NVIDIA Co. has a 52 week low of $54.74 and a 52 week high of $153.13. The company’s 50 day moving average is $139.68 and its two-hundred day moving average is $128.82. The company has a market cap of $3.34 trillion, a PE ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. 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 posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Equities analysts predict that NVIDIA Co. will post 2.78 earnings per share 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 issued a $0.01 dividend. 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 1.57%.

NVIDIA Company 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.