Prism Advisors Inc. Sells 2,424 Shares of NVIDIA Co. (NASDAQ:NVDA)

Prism Advisors Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 52.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,164 shares of the computer hardware maker’s stock after selling 2,424 shares during the quarter. Prism Advisors Inc.’s holdings in NVIDIA were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Poehling Capital Management INC. lifted its holdings in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after acquiring an additional 14 shares during the period. FSA Wealth Management LLC boosted its position in shares of NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares in the last quarter. Clean Yield Group increased its stake in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after acquiring an additional 15 shares during the period. Finally, Bell Investment Advisors Inc raised its position in NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock worth $1,092,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NVDA. Needham & Company LLC upped their price objective on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $160.00 price objective (up from $138.00) on shares of NVIDIA in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Finally, Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $154.63.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. 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 in the last quarter. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 4.9 %

Shares of NVIDIA stock opened at $147.01 on Wednesday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $3.61 trillion, a P/E ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The business has a 50-day moving average of $132.42 and a two-hundred day moving average of $121.37.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.