Worth Asset Management LLC Sells 11,878 Shares of NVIDIA Co. (NASDAQ:NVDA)

Worth Asset Management LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 37.6% in the third quarter, Holdings Channel reports. The firm owned 19,707 shares of the computer hardware maker’s stock after selling 11,878 shares during the quarter. NVIDIA comprises about 1.3% of Worth Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Worth Asset Management LLC’s holdings in NVIDIA were worth $2,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Hamilton Wealth LLC boosted its stake in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after purchasing an additional 9 shares during the period. Curran Financial Partners LLC boosted its stake in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC boosted its stake in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the period. Poehling Capital Management INC. boosted its stake in NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after purchasing an additional 14 shares during the period. Finally, FSA Wealth Management LLC boosted its stake in NVIDIA by 3.0% in the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after purchasing an additional 14 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVDA shares. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company boosted their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Benchmark reissued a “buy” rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

NVIDIA Stock Up 2.1 %

Shares of NASDAQ NVDA opened at $148.29 on Wednesday. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 69.62, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The firm’s 50 day simple moving average is $127.79 and its two-hundred day simple moving average is $118.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the business posted $0.25 EPS. NVIDIA’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given 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, September 12th. NVIDIA’s payout ratio is currently 1.88%.

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.