Cambridge Advisors Inc. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,270 shares of the computer hardware maker’s stock after selling 2,625 shares during the period. Cambridge Advisors Inc.’s holdings in NVIDIA were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA during the first quarter worth about $27,000. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter valued at approximately $27,000. Finally, CGC Financial Services LLC bought a new stake in NVIDIA during the 2nd quarter valued at $26,000. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $140.26 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.20, a P/E/G ratio of 2.51 and a beta of 1.63. The business’s 50-day simple moving average is $136.89 and its 200-day simple moving average is $124.75. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.
NVIDIA Announces Dividend
The business 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 annualized dividend 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 stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have issued reports on NVDA shares. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday, November 18th. Finally, Barclays upped their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.
Get Our Latest Stock Analysis on NVDA
Insider Activity at NVIDIA
In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,916,986 shares of company stock worth $227,311,199 in the last ninety days. 4.23% of the stock is currently owned by insiders.
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.
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