Capital Advisors Wealth Management LLC Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Capital Advisors Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,975 shares of the computer hardware maker’s stock after selling 1,578 shares during the quarter. NVIDIA accounts for approximately 1.2% of Capital Advisors Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Capital Advisors Wealth Management LLC’s holdings in NVIDIA were worth $6,433,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVDA shares. The Goldman Sachs Group upped their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Westpark Capital lifted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Oppenheimer lifted their price target on NVIDIA from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $140.15 on Tuesday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The company has a 50-day moving average price of $131.64 and a 200 day moving average price of $120.96. The company has a market cap of $3.44 trillion, a P/E ratio of 65.74, a PEG ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating 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 analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current year.

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

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

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % 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, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were 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 approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

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.