Taylor & Morgan Wealth Management LLC Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Taylor & Morgan Wealth Management LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,783 shares of the computer hardware maker’s stock after selling 1,159 shares during the period. NVIDIA comprises approximately 2.4% of Taylor & Morgan Wealth Management LLC’s holdings, making the stock its 11th largest holding. Taylor & Morgan Wealth Management LLC’s holdings in NVIDIA were worth $3,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. lifted its holdings in NVIDIA by 7.9% during the third quarter. TCI Wealth Advisors Inc. now owns 52,322 shares of the computer hardware maker’s stock worth $6,354,000 after buying an additional 3,816 shares during the period. TCP Asset Management LLC lifted its stake in shares of NVIDIA by 5.2% during the 3rd quarter. TCP Asset Management LLC now owns 8,561 shares of the computer hardware maker’s stock worth $1,040,000 after purchasing an additional 424 shares during the last quarter. Concord Wealth Partners boosted its position in NVIDIA by 14.7% during the third quarter. Concord Wealth Partners now owns 213,823 shares of the computer hardware maker’s stock valued at $25,967,000 after purchasing an additional 27,374 shares in the last quarter. Vivid Wealth Management LLC grew its stake in NVIDIA by 2.7% in the third quarter. Vivid Wealth Management LLC now owns 22,363 shares of the computer hardware maker’s stock valued at $2,716,000 after purchasing an additional 580 shares during the last quarter. Finally, Yeomans Consulting Group Inc. raised its holdings in NVIDIA by 11.3% in the third quarter. Yeomans Consulting Group Inc. now owns 9,808 shares of the computer hardware maker’s stock worth $1,191,000 after purchasing an additional 998 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

NASDAQ:NVDA opened at $138.81 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $45.83 and a 52 week high of $152.89. The stock’s 50-day moving average price is $138.51 and its 200-day moving average price is $126.04. The stock has a market capitalization of $3.40 trillion, a PE ratio of 54.65, a price-to-earnings-growth ratio of 2.58 and a beta of 1.63.

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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its board has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value 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. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,676,986 shares of company stock worth $201,778,799 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.