PBMares Wealth Management LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

PBMares Wealth Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,101 shares of the computer hardware maker’s stock after selling 1,093 shares during the quarter. PBMares Wealth Management LLC’s holdings in NVIDIA were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. grew its stake in shares of NVIDIA by 2.4% during the third quarter. Farmers & Merchants Investments Inc. now owns 73,697 shares of the computer hardware maker’s stock valued at $8,950,000 after buying an additional 1,704 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in NVIDIA by 18.9% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 28,568 shares of the computer hardware maker’s stock worth $3,469,000 after acquiring an additional 4,533 shares during the last quarter. MONECO Advisors LLC increased its stake in NVIDIA by 3.6% in the 3rd quarter. MONECO Advisors LLC now owns 96,837 shares of the computer hardware maker’s stock worth $11,760,000 after purchasing an additional 3,328 shares during the period. Diversify Advisory Services LLC lifted its position in NVIDIA by 7.2% in the third quarter. Diversify Advisory Services LLC now owns 976,640 shares of the computer hardware maker’s stock valued at $118,603,000 after purchasing an additional 65,747 shares during the last quarter. Finally, SC&H Financial Advisors Inc. boosted its stake in shares of NVIDIA by 64.2% during the third quarter. SC&H Financial Advisors Inc. now owns 4,994 shares of the computer hardware maker’s stock valued at $606,000 after purchasing an additional 1,953 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NVDA shares. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. HSBC raised their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $188,359,199 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 2.7 %

NVDA stock opened at $135.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $138.51 and a two-hundred day simple moving average of $126.04. NVIDIA Co. has a 1-year low of $45.83 and a 1-year high of $152.89. The company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has authorized a stock buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.