AIFG Consultants Ltd. Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

AIFG Consultants Ltd. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 26.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,545 shares of the computer hardware maker’s stock after selling 1,256 shares during the quarter. AIFG Consultants Ltd.’s holdings in NVIDIA were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings 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 acquiring an additional 190 shares during the period. CGC Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter valued at about $27,000. Finally, Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. Citigroup increased their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Westpark Capital increased their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Sanford C. Bernstein increased their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Wedbush increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares in the company, valued at approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,986 shares of company stock worth $254,885,999 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Down 1.2 %

Shares of NVDA stock opened at $135.34 on Thursday. The business’s 50 day moving average is $135.26 and its two-hundred day moving average is $123.26. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a market capitalization of $3.31 trillion, a P/E ratio of 53.26, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66. 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 announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the business posted $0.38 EPS. The company’s revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.