Walkner Condon Financial Advisors LLC Sells 12,020 Shares of NVIDIA Co. (NASDAQ:NVDA)

Walkner Condon Financial Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 29.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 28,531 shares of the computer hardware maker’s stock after selling 12,020 shares during the quarter. Walkner Condon Financial Advisors LLC’s holdings in NVIDIA were worth $3,465,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the third quarter valued at about $27,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at about $26,000. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after acquiring an additional 261 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Wedbush raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given 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 an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Up 3.1 %

NVDA stock opened at $134.70 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock’s 50 day simple moving average is $139.63 and its 200 day simple moving average is $127.32. The company has a market cap of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its 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 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 analyst estimates of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given 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 of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction dated 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 $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock worth $201,687,727 in the last quarter. Insiders own 4.23% of the company’s stock.

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.