NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 8.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 105,140 shares of the computer hardware maker’s stock after selling 10,280 shares during the quarter. NVIDIA comprises about 10.7% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 3rd largest position. Blodgett Wealth Advisors LLC’s holdings in NVIDIA were worth $12,768,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the first quarter valued at about $27,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the third quarter valued at approximately $27,000. Finally, CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth $26,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.2 %

Shares of NASDAQ NVDA opened at $138.25 on Friday. The stock has a market capitalization of $3.39 trillion, a PE ratio of 54.41, a P/E/G ratio of 2.45 and a beta of 1.66. 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 firm has a fifty day moving average of $136.05 and a 200-day moving average of $123.67. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

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

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. 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 payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NVDA shares. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.