Impact Partnership Wealth LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Impact Partnership Wealth LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,686 shares of the computer hardware maker’s stock after selling 2,392 shares during the quarter. NVIDIA accounts for 0.5% of Impact Partnership Wealth LLC’s investment portfolio, making the stock its 27th biggest holding. Impact Partnership Wealth LLC’s holdings in NVIDIA were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its position in NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after buying an additional 13,135 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of NVIDIA by 1.1% during the first quarter. Shell Asset Management Co. now owns 123,527 shares of the computer hardware maker’s stock worth $111,614,000 after acquiring an additional 1,327 shares during the period. Fayez Sarofim & Co raised its holdings in NVIDIA by 16.4% during the first quarter. Fayez Sarofim & Co now owns 145,619 shares of the computer hardware maker’s stock worth $131,576,000 after purchasing an additional 20,467 shares in the last quarter. Vident Advisory LLC lifted its position in NVIDIA by 30.4% in the first quarter. Vident Advisory LLC now owns 67,153 shares of the computer hardware maker’s stock valued at $60,678,000 after purchasing an additional 15,675 shares during the period. Finally, Delap Wealth Advisory LLC boosted its holdings in NVIDIA by 383.6% in the 1st quarter. Delap Wealth Advisory LLC now owns 5,668 shares of the computer hardware maker’s stock valued at $5,121,000 after purchasing an additional 4,496 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This 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 at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,916,986 shares of company stock worth $227,311,199 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 0.3 %

NASDAQ NVDA opened at $138.63 on Tuesday. The company has a 50-day moving average of $136.05 and a 200-day moving average of $124.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The company has a market cap of $3.40 trillion, a P/E ratio of 54.58, a P/E/G ratio of 2.50 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Stifel Nicolaus raised their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Bank of America reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four 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 an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA 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.