Norris Perne & French LLP MI Has $1.81 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Norris Perne & French LLP MI lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,917 shares of the computer hardware maker’s stock after selling 567 shares during the quarter. Norris Perne & French LLP MI’s holdings in NVIDIA were worth $1,812,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NVDA. Parkside Advisors LLC grew its position in NVIDIA by 900.0% during the second quarter. Parkside Advisors LLC now owns 12,180 shares of the computer hardware maker’s stock worth $1,505,000 after buying an additional 10,962 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 1,382.4% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 488,008 shares of the computer hardware maker’s stock valued at $60,289,000 after purchasing an additional 455,087 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of NVIDIA by 926.3% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 93,723 shares of the computer hardware maker’s stock valued at $11,579,000 after purchasing an additional 84,591 shares in the last quarter. Stonebridge Capital Management Inc. boosted its holdings in shares of NVIDIA by 930.7% in the 2nd quarter. Stonebridge Capital Management Inc. now owns 45,370 shares of the computer hardware maker’s stock valued at $5,605,000 after purchasing an additional 40,968 shares in the last quarter. Finally, Naples Money Management LLC boosted its holdings in shares of NVIDIA by 2,211.7% in the 2nd quarter. Naples Money Management LLC now owns 105,020 shares of the computer hardware maker’s stock valued at $13,054,000 after purchasing an additional 100,477 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 2.2 %

Shares of NASDAQ:NVDA opened at $134.25 on Friday. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a P/E/G ratio of 2.52 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. The business’s 50-day moving average is $139.76 and its 200-day moving average is $126.60. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given 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 of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. 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. Robert W. Baird raised their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Westpark Capital raised their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock valued at $197,995,077 in the last three months. Corporate insiders own 4.23% of the company’s stock.

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.