Riversedge Advisors LLC Has $2.86 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Riversedge Advisors LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,579 shares of the computer hardware maker’s stock after selling 126 shares during the quarter. NVIDIA comprises approximately 0.6% of Riversedge Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Riversedge Advisors LLC’s holdings in NVIDIA were worth $2,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter valued at about $27,000. TCTC Holdings LLC bought a new stake in NVIDIA during the first quarter worth $82,000. Delos Wealth Advisors LLC raised its holdings in shares of NVIDIA by 600.0% in the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock valued at $101,000 after purchasing an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by company insiders.

NVIDIA Trading Up 0.6 %

NVDA opened at $146.71 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm has a 50 day simple moving average of $133.55 and a 200 day simple moving average of $121.72. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its board has authorized a stock buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Analyst Ratings Changes

A number of equities research analysts recently commented on NVDA shares. Craig Hallum lifted their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. HSBC lifted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, UBS Group raised their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.82.

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.