Pathway Financial Advisors LLC Sells 279 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pathway Financial Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,263 shares of the computer hardware maker’s stock after selling 279 shares during the period. NVIDIA makes up 0.7% of Pathway Financial Advisors LLC’s portfolio, making the stock its 21st biggest position. Pathway Financial Advisors LLC’s holdings in NVIDIA were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of NVDA. Mezzasalma Advisors LLC raised its position in shares of NVIDIA by 21.1% during the first quarter. Mezzasalma Advisors LLC now owns 13,013 shares of the computer hardware maker’s stock worth $11,758,000 after purchasing an additional 2,267 shares during the period. Kesler Norman & Wride LLC raised its position in shares of NVIDIA by 76.1% during the first quarter. Kesler Norman & Wride LLC now owns 5,478 shares of the computer hardware maker’s stock worth $4,950,000 after purchasing an additional 2,368 shares during the period. Maryland State Retirement & Pension System raised its position in shares of NVIDIA by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 185,778 shares of the computer hardware maker’s stock worth $156,879,000 after purchasing an additional 1,181 shares during the period. American Institute for Advanced Investment Management LLP raised its position in shares of NVIDIA by 5.1% during the first quarter. American Institute for Advanced Investment Management LLP now owns 826 shares of the computer hardware maker’s stock worth $746,000 after purchasing an additional 40 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC raised its position in shares of NVIDIA by 2.3% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 6,593 shares of the computer hardware maker’s stock worth $5,957,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America lifted their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, October 18th. TD Cowen raised NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group lifted their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Five research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $147.63 on Friday. The firm has a market cap of $3.62 trillion, a price-to-earnings ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock’s fifty day moving average price is $127.27 and its two-hundred day moving average price is $117.94.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share 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 during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its board has approved a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. 4.23% of the stock is owned by insiders.

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.