Wealth Alliance Advisory Group LLC Sells 575 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wealth Alliance Advisory Group LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,094 shares of the computer hardware maker’s stock after selling 575 shares during the quarter. NVIDIA accounts for approximately 1.9% of Wealth Alliance Advisory Group LLC’s holdings, making the stock its 14th biggest position. Wealth Alliance Advisory Group LLC’s holdings in NVIDIA were worth $9,119,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NVDA. Hamilton Wealth LLC boosted its stake in shares of NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Poehling Capital Management INC. raised its holdings 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 worth $1,442,000 after purchasing an additional 14 shares during the period. FSA Wealth Management LLC boosted its position in 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 purchasing an additional 14 shares in the last quarter. Clean Yield Group boosted its position 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 purchasing an additional 15 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of NVIDIA by 1.5% in the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after buying an additional 17 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 4.2 %

Shares of NASDAQ:NVDA opened at $136.02 on Tuesday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm’s 50 day moving average price is $134.39 and its 200 day moving average price is $122.84. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, August 6th. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. 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 note on Thursday, November 14th. Bank of America reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. 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 ninety days. Insiders own 4.23% of the company’s stock.

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.