IRON Financial LLC Sells 280 Shares of NVIDIA Co. (NASDAQ:NVDA)

IRON Financial LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,646 shares of the computer hardware maker’s stock after selling 280 shares during the quarter. NVIDIA comprises about 1.0% of IRON Financial LLC’s portfolio, making the stock its 24th largest position. IRON Financial LLC’s holdings in NVIDIA were worth $1,900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. CGC Financial Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at approximately $26,000. Quest Partners LLC bought a new position in shares of NVIDIA during the second quarter valued at $27,000. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the third quarter worth $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. Barclays increased their price target on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Mizuho increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. UBS Group raised their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note 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. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock worth $188,359,199 over the last quarter. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 1.4 %

NVIDIA stock opened at $137.34 on Friday. The firm has a 50 day moving average price of $139.28 and a 200-day moving average price of $126.33. 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 twelve month low of $47.32 and a twelve month high of $152.89. The company has a market capitalization of $3.36 trillion, a P/E ratio of 54.07, a P/E/G ratio of 2.58 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its board has approved a share repurchase 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 generally a sign that the company’s board of directors believes its shares are undervalued.

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.