High Net Worth Advisory Group LLC Has $12.84 Million Position in NVIDIA Co. (NASDAQ:NVDA)

High Net Worth Advisory Group LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,719 shares of the computer hardware maker’s stock after selling 3,480 shares during the quarter. NVIDIA makes up 3.5% of High Net Worth Advisory Group LLC’s portfolio, making the stock its 5th biggest holding. High Net Worth Advisory Group LLC’s holdings in NVIDIA were worth $12,839,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVDA. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its position in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Down 3.3 %

Shares of NVIDIA stock opened at $141.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm has a fifty day moving average of $130.97 and a two-hundred day moving average of $120.08. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a market cap of $3.48 trillion, a P/E ratio of 66.66, a PEG ratio of 1.54 and a beta of 1.66.

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

NVIDIA declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Needham & Company LLC boosted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

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.