Concentric Wealth Management LLC Has $750,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Concentric Wealth Management LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 25.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,179 shares of the computer hardware maker’s stock after selling 2,097 shares during the period. Concentric Wealth Management LLC’s holdings in NVIDIA were worth $750,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its stake in NVIDIA by 21.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,024,509 shares of the computer hardware maker’s stock valued at $124,468,000 after buying an additional 183,834 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of NVIDIA by 82.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 26,572 shares of the computer hardware maker’s stock worth $3,227,000 after buying an additional 11,991 shares during the period. Prosperity Financial Group Inc. boosted its holdings in shares of NVIDIA by 35.2% during the 3rd quarter. Prosperity Financial Group Inc. now owns 65,893 shares of the computer hardware maker’s stock worth $8,002,000 after buying an additional 17,153 shares during the period. Douglass Winthrop Advisors LLC boosted its holdings in shares of NVIDIA by 50.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 124,441 shares of the computer hardware maker’s stock worth $15,112,000 after buying an additional 41,619 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in NVIDIA by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after purchasing an additional 3,283,380 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 3.0 %

NASDAQ NVDA opened at $135.91 on Friday. The company has a fifty day simple moving average of $139.90 and a two-hundred day simple moving average of $128.66. The stock has a market cap of $3.33 trillion, a P/E ratio of 53.49, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 12-month low of $53.56 and a 12-month high of $153.13. 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 issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. DA Davidson boosted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Raymond James upped their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Citigroup increased their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.63.

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.