Commonwealth Financial Services LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Commonwealth Financial Services LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,709 shares of the computer hardware maker’s stock after selling 4,439 shares during the period. NVIDIA comprises about 1.4% of Commonwealth Financial Services LLC’s holdings, making the stock its 25th largest position. Commonwealth Financial Services LLC’s holdings in NVIDIA were worth $6,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA during the 1st quarter worth approximately $27,000. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter valued at $27,000. Finally, CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVDA shares. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. HSBC boosted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the sale, the chief executive officer now owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,916,986 shares of company stock valued at $227,311,199. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $138.63 on Tuesday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $152.89. The company has a fifty day moving average of $136.05 and a 200-day moving average of $124.11. The company has a market capitalization of $3.40 trillion, a P/E ratio of 54.58, a P/E/G ratio of 2.50 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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

NVIDIA 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.