Summit Investment Advisory Services LLC Has $207,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Summit Investment Advisory Services LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 74.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,708 shares of the computer hardware maker’s stock after selling 5,030 shares during the quarter. Summit Investment Advisory Services LLC’s holdings in NVIDIA were worth $207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hamilton Wealth LLC increased its holdings in shares of NVIDIA by 0.3% during 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 in the last quarter. Poehling Capital Management INC. grew its position 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 valued at $1,442,000 after purchasing an additional 14 shares during the period. FSA Wealth Management LLC increased its stake 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 purchasing an additional 14 shares in the last quarter. Clean Yield Group raised its holdings in NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in shares of NVIDIA by 1.3% in the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock valued at $1,092,000 after buying an additional 16 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NVDA stock opened at $146.71 on Friday. The firm has a 50 day simple moving average of $133.55 and a two-hundred day simple moving average of $121.72. The stock has a market cap of $3.60 trillion, a PE ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. 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 (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. 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 payout ratio is 1.88%.

NVIDIA declared that its board has initiated 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday. Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush upped their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Redburn Atlantic began coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.82.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last quarter. 4.23% of the stock is owned by corporate 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.