NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 88.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 825 shares of the computer hardware maker’s stock after selling 6,595 shares during the period. Tandem Capital Management Corp ADV’s holdings in NVIDIA were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Blackston Financial Advisory Group LLC lifted its stake in NVIDIA by 27.1% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 22,255 shares of the computer hardware maker’s stock valued at $2,703,000 after acquiring an additional 4,745 shares during the period. Ballentine Partners LLC lifted its stake in NVIDIA by 1.0% during the 3rd quarter. Ballentine Partners LLC now owns 429,384 shares of the computer hardware maker’s stock valued at $52,144,000 after acquiring an additional 4,260 shares during the period. Heritage Oak Wealth Advisors LLC lifted its stake in NVIDIA by 187.6% during the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 41,233 shares of the computer hardware maker’s stock valued at $5,007,000 after acquiring an additional 26,898 shares during the period. Busey Bank lifted its stake in NVIDIA by 5.2% during the 3rd quarter. Busey Bank now owns 836,617 shares of the computer hardware maker’s stock valued at $101,599,000 after acquiring an additional 41,100 shares during the period. Finally, Silver Oak Securities Incorporated lifted its stake in NVIDIA by 46.5% during the 3rd quarter. Silver Oak Securities Incorporated now owns 102,999 shares of the computer hardware maker’s stock valued at $12,485,000 after acquiring an additional 32,713 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Phillip Securities restated an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Stifel Nicolaus boosted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock valued at $214,418,399 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 3.5 %

Shares of NVDA opened at $145.14 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.27 and a 12-month high of $152.89. The firm has a 50-day moving average price of $137.32 and a 200 day moving average price of $124.90. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 57.12, a P/E/G ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign 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.