Processus Wealth & Capital Management LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Processus Wealth & Capital Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the third quarter, Holdings Channel.com reports. The fund owned 125,583 shares of the computer hardware maker’s stock after selling 2,887 shares during the quarter. NVIDIA accounts for approximately 12.6% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its largest position. Processus Wealth & Capital Management LLC’s holdings in NVIDIA were worth $15,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the third quarter valued at $27,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth about $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the second quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. raised its stake in NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after buying an additional 261 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVDA shares. Raymond James lifted their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research 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 report on Monday, November 11th. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, Needham & Company LLC upped their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,391,886 shares of company stock worth $181,666,050. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4 %

NVIDIA stock opened at $140.22 on Wednesday. The business has a 50-day simple moving average of $139.66 and a two-hundred day simple moving average of $127.49. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.