Courier Capital LLC Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Courier Capital LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,630 shares of the computer hardware maker’s stock after selling 332 shares during the period. Courier Capital LLC’s holdings in NVIDIA were worth $5,420,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVDA. Eagle Bay Advisors LLC increased its position in NVIDIA by 0.8% during the 3rd quarter. Eagle Bay Advisors LLC now owns 13,127 shares of the computer hardware maker’s stock valued at $1,594,000 after purchasing an additional 109 shares during the period. Foundry Financial Group Inc. increased its position in shares of NVIDIA by 5.9% during the third quarter. Foundry Financial Group Inc. now owns 4,291 shares of the computer hardware maker’s stock valued at $521,000 after buying an additional 239 shares during the period. Iron Horse Wealth Management LLC raised its stake in NVIDIA by 17.4% in the third quarter. Iron Horse Wealth Management LLC now owns 587 shares of the computer hardware maker’s stock worth $71,000 after buying an additional 87 shares in the last quarter. Sterling Investment Counsel LLC lifted its holdings in NVIDIA by 35.2% in the third quarter. Sterling Investment Counsel LLC now owns 38,588 shares of the computer hardware maker’s stock worth $4,686,000 after buying an additional 10,037 shares during the period. Finally, BetterWealth LLC boosted its position in NVIDIA by 0.9% during the 3rd quarter. BetterWealth LLC now owns 17,526 shares of the computer hardware maker’s stock valued at $2,128,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now directly owns 75,895,836 shares in the company, valued at $7,994,108,405.88. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $138.25 on Monday. The business has a 50-day simple moving average of $136.05 and a two-hundred day simple moving average of $124.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.76 EPS for the current 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 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 (DPR) is 1.57%.

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

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.