Tradition Wealth Management LLC Has $16.19 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Tradition Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,334 shares of the computer hardware maker’s stock after selling 2,956 shares during the quarter. NVIDIA comprises 1.4% of Tradition Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Tradition Wealth Management LLC’s holdings in NVIDIA were worth $16,192,000 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 NVDA. Kitching Partners LLC bought a new position in shares of NVIDIA during the 3rd quarter valued at $534,000. Boxwood Ventures Inc. acquired a new position in NVIDIA during the third quarter worth $1,464,000. Maverick Capital Ltd. raised its holdings in NVIDIA by 15.7% during the third quarter. Maverick Capital Ltd. now owns 2,368,091 shares of the computer hardware maker’s stock valued at $287,581,000 after buying an additional 320,808 shares in the last quarter. Widmann Financial Services Inc. lifted its position in shares of NVIDIA by 18.7% in the third quarter. Widmann Financial Services Inc. now owns 2,398 shares of the computer hardware maker’s stock worth $291,000 after buying an additional 378 shares during the last quarter. Finally, Encompass More Asset Management boosted its stake in shares of NVIDIA by 60.6% during the 3rd quarter. Encompass More Asset Management now owns 18,102 shares of the computer hardware maker’s stock worth $2,198,000 after acquiring an additional 6,828 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 1.1 %

Shares of NVDA opened at $131.76 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 1 year low of $54.74 and a 1 year high of $153.13. The business’s 50 day simple moving average is $139.68 and its 200-day simple moving average is $128.82.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date 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%.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVDA shares. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Susquehanna upped their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.27.

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.