Cabot Wealth Management Inc. Sells 16,404 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cabot Wealth Management Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,289 shares of the computer hardware maker’s stock after selling 16,404 shares during the period. Cabot Wealth Management Inc.’s holdings in NVIDIA were worth $5,500,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the 1st quarter worth $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth $30,000. TCTC Holdings LLC purchased a new position in NVIDIA during the first quarter valued at $82,000. Finally, Delos Wealth Advisors LLC grew its holdings in NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after purchasing an additional 96 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the sale, the director now owns 8,420,117 shares in the company, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $140.15 on Tuesday. 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 has a market cap of $3.44 trillion, a price-to-earnings ratio of 65.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The firm has a 50-day moving average of $131.64 and a two-hundred day moving average of $120.96. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The business 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. Truist Financial raised their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Oppenheimer increased their price objective on shares of NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Bank of America lifted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Company 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.