Abich Financial Wealth Management LLC Has $49,000 Holdings in NVIDIA Co. (NASDAQ:NVDA)

Abich Financial Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 82.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 406 shares of the computer hardware maker’s stock after selling 1,941 shares during the period. Abich Financial Wealth Management LLC’s holdings in NVIDIA were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Pensionfund Sabic increased its stake in shares of NVIDIA by 900.0% during the 2nd quarter. Pensionfund Sabic now owns 10,000 shares of the computer hardware maker’s stock worth $1,235,000 after purchasing an additional 9,000 shares during the last quarter. Waller Financial Planning Group Inc. bought a new position in NVIDIA during the second quarter valued at about $378,000. Red Spruce Capital LLC raised its holdings in NVIDIA by 917.1% during the second quarter. Red Spruce Capital LLC now owns 17,260 shares of the computer hardware maker’s stock valued at $2,132,000 after buying an additional 15,563 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in shares of NVIDIA by 1,631.4% during the 2nd quarter. Appleton Partners Inc. MA now owns 81,012 shares of the computer hardware maker’s stock worth $10,008,000 after acquiring an additional 76,333 shares in the last quarter. Finally, Centre Asset Management LLC increased its holdings in shares of NVIDIA by 922.9% during the 2nd quarter. Centre Asset Management LLC now owns 230,385 shares of the computer hardware maker’s stock valued at $28,462,000 after acquiring an additional 207,862 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVDA shares. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Monday, November 18th. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Wedbush raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock valued at $188,359,199 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.7 %

NASDAQ:NVDA opened at $135.07 on Wednesday. The stock’s fifty day moving average price is $138.51 and its two-hundred day moving average price is $126.04. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a 52-week low of $45.83 and a 52-week high of $152.89. 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 released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

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