Single Point Partners LLC Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Single Point Partners LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,745 shares of the computer hardware maker’s stock after selling 975 shares during the period. NVIDIA makes up 1.1% of Single Point Partners LLC’s portfolio, making the stock its 16th biggest position. Single Point Partners LLC’s holdings in NVIDIA were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the first quarter valued at $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Raymond James boosted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Needham & Company LLC raised their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Trading Up 0.5 %

Shares of NVDA stock opened at $136.05 on Tuesday. 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 capitalization of $3.34 trillion, a price-to-earnings ratio of 63.87, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66. NVIDIA Co. has a 12-month low of $44.90 and a 12-month high of $144.42. The stock’s 50-day moving average price is $125.45 and its 200-day moving average price is $116.60.

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

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total value of $12,462,000.00. Following the completion of the transaction, the chief executive officer now owns 76,854,995 shares in the company, valued at approximately $7,981,391,230.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total value of $12,462,000.00. Following the transaction, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,396,270 shares of company stock worth $279,825,927. 4.23% of the stock is currently owned by corporate insiders.

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.