NVIDIA Co. (NASDAQ:NVDA) Position Trimmed by CFM Wealth Partners LLC

CFM Wealth Partners LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 90.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,282 shares of the computer hardware maker’s stock after selling 527,753 shares during the period. NVIDIA makes up about 1.5% of CFM Wealth Partners LLC’s investment portfolio, making the stock its 16th largest holding. CFM Wealth Partners LLC’s holdings in NVIDIA were worth $7,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter worth $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 4.9 %

NVDA opened at $147.01 on Wednesday. The stock has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The business has a 50 day moving average of $132.42 and a 200-day moving average of $121.37. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

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

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

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Evercore ISI upped their price target on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Bank of America upped their target price on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Morgan Stanley upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $154.63.

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.