Griffin Asset Management Inc. Has $11.74 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Griffin Asset Management Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,648 shares of the computer hardware maker’s stock after selling 5,132 shares during the period. NVIDIA comprises 1.3% of Griffin Asset Management Inc.’s portfolio, making the stock its 21st largest holding. Griffin Asset Management Inc.’s holdings in NVIDIA were worth $11,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Hamilton Wealth LLC boosted its holdings in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the last quarter. Poehling Capital Management INC. grew its position in shares of NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after buying an additional 14 shares during the period. FSA Wealth Management LLC raised its stake in shares of NVIDIA by 3.0% during the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after buying an additional 14 shares during the last quarter. Clean Yield Group boosted its stake in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after acquiring an additional 15 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its holdings in NVIDIA by 1.3% during the 1st quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock worth $1,092,000 after acquiring an additional 16 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five 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 company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $154.63.

NVIDIA Trading Up 4.9 %

Shares of NASDAQ:NVDA opened at $147.01 on Wednesday. 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 company has a 50-day simple moving average of $132.42 and a 200 day simple moving average of $121.37. The company has a market capitalization of $3.61 trillion, a P/E ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s payout ratio 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 repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the company’s 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 sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last three months. 4.23% of the stock is currently owned by company insiders.

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.