NVIDIA Co. (NASDAQ:NVDA) Holdings Reduced by PFG Advisors

PFG Advisors reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,751 shares of the computer hardware maker’s stock after selling 4,908 shares during the quarter. NVIDIA comprises approximately 1.3% of PFG Advisors’ holdings, making the stock its 8th largest position. PFG Advisors’ holdings in NVIDIA were worth $20,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Petredis Investment Advisors LLC boosted its stake in NVIDIA by 0.3% during the third quarter. Petredis Investment Advisors LLC now owns 426,638 shares of the computer hardware maker’s stock valued at $51,811,000 after buying an additional 1,106 shares during the last quarter. Oxinas Partners Wealth Management LLC raised its holdings in shares of NVIDIA by 46.2% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 11,270 shares of the computer hardware maker’s stock worth $1,369,000 after acquiring an additional 3,561 shares in the last quarter. Magnus Financial Group LLC boosted its position in shares of NVIDIA by 10.8% during the 3rd quarter. Magnus Financial Group LLC now owns 33,614 shares of the computer hardware maker’s stock valued at $4,082,000 after acquiring an additional 3,284 shares during the last quarter. Luts & Greenleigh Group Inc. grew its holdings in shares of NVIDIA by 3.5% in the third quarter. Luts & Greenleigh Group Inc. now owns 20,284 shares of the computer hardware maker’s stock valued at $2,463,000 after purchasing an additional 685 shares in the last quarter. Finally, Investment Advisory Group LLC increased its position in NVIDIA by 15.3% in the third quarter. Investment Advisory Group LLC now owns 14,120 shares of the computer hardware maker’s stock worth $1,715,000 after purchasing an additional 1,878 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $140.15 on Tuesday. 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 company has a market capitalization 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 200 day moving average of $120.96. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVDA shares. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Robert W. Baird raised their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC lifted their target price on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.40.

About NVIDIA

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.