Altus Wealth Management LLC Sells 3,391 Shares of NVIDIA Co. (NASDAQ:NVDA)

Altus Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,452 shares of the computer hardware maker’s stock after selling 3,391 shares during the quarter. NVIDIA makes up approximately 0.6% of Altus Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Altus Wealth Management LLC’s holdings in NVIDIA were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised its stake 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 valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the 2nd quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth about $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Wedbush boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $141.95 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10. The stock has a 50 day moving average price of $134.01 and a 200 day moving average price of $122.28. The stock has a market capitalization of $3.48 trillion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

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.