Adell Harriman & Carpenter Inc. Sells 25,380 Shares of NVIDIA Co. (NASDAQ:NVDA)

Adell Harriman & Carpenter Inc. cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 886,558 shares of the computer hardware maker’s stock after selling 25,380 shares during the period. NVIDIA accounts for about 7.8% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its biggest holding. Adell Harriman & Carpenter Inc.’s holdings in NVIDIA were worth $107,664,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NVDA. Pensionfund Sabic lifted its stake in NVIDIA by 900.0% in the 2nd quarter. Pensionfund Sabic now owns 10,000 shares of the computer hardware maker’s stock valued at $1,235,000 after purchasing an additional 9,000 shares during the last quarter. Waller Financial Planning Group Inc. bought a new stake in NVIDIA in the second quarter valued at approximately $378,000. Red Spruce Capital LLC raised its stake in NVIDIA by 917.1% in 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 during the period. Appleton Partners Inc. MA lifted its position in shares of NVIDIA by 1,631.4% in the second quarter. Appleton Partners Inc. MA now owns 81,012 shares of the computer hardware maker’s stock valued at $10,008,000 after buying an additional 76,333 shares during the last quarter. Finally, Centre Asset Management LLC boosted its stake 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 worth $28,462,000 after acquiring an additional 207,862 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. TD Cowen increased their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 2.7 %

NVDA opened at $135.07 on Wednesday. The company has a market cap of $3.31 trillion, a P/E ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $138.51 and its 200-day moving average is $126.04. NVIDIA Co. has a 1-year low of $45.83 and a 1-year high of $152.89.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued 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 presently 1.57%.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is currently owned by insiders.

NVIDIA Company 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.