NVIDIA Co. (NASDAQ:NVDA) Stock Position Decreased by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 132,067 shares of the computer hardware maker’s stock after selling 11,247 shares during the period. NVIDIA accounts for about 10.4% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 2nd largest holding. Ables Iannone Moore & Associates Inc.’s holdings in NVIDIA were worth $16,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter valued at approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target on shares of NVIDIA in a report on Thursday, October 10th. Raymond James increased their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Mizuho increased their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group increased their price target on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,396,270 shares of company stock worth $279,825,927. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.0 %

NASDAQ NVDA opened at $135.40 on Monday. The company’s 50-day moving average price is $125.25 and its 200-day moving average price is $116.24. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.32 trillion, a PE ratio of 63.57, a PEG ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 12 month low of $42.89 and a 12 month high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA announced that its board has approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

About NVIDIA

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.