WD Rutherford LLC Sells 4,948 Shares of NVIDIA Co. (NASDAQ:NVDA)

WD Rutherford LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,032 shares of the computer hardware maker’s stock after selling 4,948 shares during the period. NVIDIA accounts for approximately 7.4% of WD Rutherford LLC’s portfolio, making the stock its biggest holding. WD Rutherford LLC’s holdings in NVIDIA were worth $15,184,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA during the second quarter worth about $27,000. Finally, Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the 3rd quarter worth approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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. Craig Hallum increased their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.07 on Wednesday. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.18, a P/E/G ratio of 2.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $45.83 and a 12 month high of $152.89. The company’s 50 day simple moving average is $138.51 and its 200 day simple moving average is $126.04.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 company had revenue of $35.08 billion during 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%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, 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 legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, 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. In the last 90 days, insiders sold 1,556,986 shares of company stock valued at $188,359,199. Company insiders own 4.23% of the company’s stock.

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.