Avaii Wealth Management LLC Sells 2,041 Shares of NVIDIA Co. (NASDAQ:NVDA)

Avaii Wealth Management LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,085 shares of the computer hardware maker’s stock after selling 2,041 shares during the quarter. NVIDIA comprises approximately 0.7% of Avaii Wealth Management LLC’s holdings, making the stock its 22nd largest position. Avaii Wealth Management LLC’s holdings in NVIDIA were worth $1,346,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the 1st quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the 1st quarter valued at approximately $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $146.71 on Friday. The stock has a market cap of $3.60 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. The company’s fifty day moving average is $133.55 and its 200 day moving average is $121.72. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current year.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on NVDA shares. Redburn Atlantic started coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Bank of America reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday. Finally, Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.82.

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.