NVIDIA Co. (NASDAQ:NVDA) Shares Sold by High Net Worth Advisory Group LLC

High Net Worth Advisory Group LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,719 shares of the computer hardware maker’s stock after selling 3,480 shares during the quarter. NVIDIA comprises about 3.5% of High Net Worth Advisory Group LLC’s holdings, making the stock its 5th largest position. High Net Worth Advisory Group LLC’s holdings in NVIDIA were worth $12,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thomasville National Bank raised its stake in shares of NVIDIA by 432.3% in the 3rd quarter. Thomasville National Bank now owns 83,923 shares of the computer hardware maker’s stock valued at $10,192,000 after purchasing an additional 68,158 shares in the last quarter. Willis Investment Counsel lifted its position in NVIDIA by 19.6% in the 3rd quarter. Willis Investment Counsel now owns 148,192 shares of the computer hardware maker’s stock worth $17,996,000 after buying an additional 24,282 shares in the last quarter. Affiance Financial LLC raised its holdings in shares of NVIDIA by 8.1% during the 3rd quarter. Affiance Financial LLC now owns 12,716 shares of the computer hardware maker’s stock valued at $1,544,000 after purchasing an additional 956 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in NVIDIA by 2.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 17,591 shares of the computer hardware maker’s stock valued at $2,136,000 after buying an additional 338 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its holdings in NVIDIA by 6.2% in the 3rd quarter. Sunflower Bank N.A. now owns 18,820 shares of the computer hardware maker’s stock valued at $2,286,000 after purchasing an additional 1,097 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 3.3 %

Shares of NVIDIA stock opened at $141.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock has a 50 day moving average price of $130.97 and a two-hundred day moving average price of $120.08. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The stock has a market capitalization of $3.48 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

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

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 given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. The trade was a 0.16 % 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 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on NVDA shares. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday. Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Bank of America increased their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Westpark Capital upped their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

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.