NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Strong Tower Advisory Services

Strong Tower Advisory Services cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,901 shares of the computer hardware maker’s stock after selling 32,563 shares during the period. NVIDIA accounts for 5.0% of Strong Tower Advisory Services’ portfolio, making the stock its 3rd largest position. Strong Tower Advisory Services’ holdings in NVIDIA were worth $18,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 1,900.0% in the second 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. acquired a new position in shares of NVIDIA during the first quarter valued at approximately $26,000. CGC Financial Services LLC bought a new stake in NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.1 %

NVDA opened at $148.29 on Wednesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $127.79 and its 200 day simple moving average is $118.90. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The stock has a market cap of $3.64 trillion, a PE ratio of 69.62, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results 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. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. HSBC increased their price objective on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Westpark Capital upped their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho lifted their price target on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Melius Research raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.