Ullmann Wealth Partners Group LLC Sells 2,219 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ullmann Wealth Partners Group LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,841 shares of the computer hardware maker’s stock after selling 2,219 shares during the quarter. Ullmann Wealth Partners Group LLC’s holdings in NVIDIA were worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NVDA. Hamilton Wealth LLC boosted its stake in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the period. Beacon Bridge Wealth Partners LLC lifted its holdings in NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares in the last quarter. Poehling Capital Management INC. boosted its stake in NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after purchasing an additional 14 shares during the period. FSA Wealth Management LLC grew its holdings in NVIDIA by 3.0% during the 1st quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares in the last quarter. Finally, Clean Yield Group raised its position in shares of NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after buying an additional 15 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA 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 company has a market capitalization of $3.44 trillion, a P/E ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66. The company’s 50-day simple moving average is $131.64 and its two-hundred day simple moving average is $120.96. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. 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 analyst estimates of $28.74 billion. During the same period in the previous year, the company posted $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a 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 of Directors has authorized a share repurchase plan 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Mizuho increased their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. William Blair initiated coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.40.

Insider Activity

In other 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 value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

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.