Washburn Capital Management Inc. Has $4.70 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Washburn Capital Management Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 18.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,694 shares of the computer hardware maker’s stock after selling 8,830 shares during the quarter. NVIDIA accounts for 3.4% of Washburn Capital Management Inc.’s portfolio, making the stock its 5th biggest holding. Washburn Capital Management Inc.’s holdings in NVIDIA were worth $4,699,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hamilton Wealth LLC raised its position in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares during the period. Clean Yield Group increased its stake in shares of NVIDIA by 0.8% in the 1st quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after purchasing an additional 15 shares in the last quarter. Cedar Point Capital Partners LLC raised its holdings in NVIDIA by 6.0% in the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 28 shares during the period. Instrumental Wealth LLC boosted its position in NVIDIA by 7.6% during the first quarter. Instrumental Wealth LLC now owns 860 shares of the computer hardware maker’s stock worth $777,000 after purchasing an additional 61 shares in the last quarter. Finally, Hoertkorn Richard Charles grew its holdings in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $111.83, for a total value of $13,419,600.00. Following the transaction, the chief executive officer now directly owns 75,655,836 shares in the company, valued at $8,460,592,139.88. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,676,986 shares of company stock worth $201,778,799 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 1.8 %

NVDA opened at $142.44 on Monday. 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 $45.60 and a 52 week high of $152.89. The business’s 50 day moving average is $138.16 and its two-hundred day moving average is $125.79. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.63.

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

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. HSBC lifted their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $164.15.

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.