NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Reston Wealth Management LLC

Reston Wealth Management LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,997 shares of the computer hardware maker’s stock after selling 514 shares during the quarter. NVIDIA makes up approximately 0.3% of Reston Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Reston Wealth Management LLC’s holdings in NVIDIA were worth $850,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Parkside Advisors LLC boosted its holdings in shares of NVIDIA by 900.0% in the 2nd quarter. Parkside Advisors LLC now owns 12,180 shares of the computer hardware maker’s stock valued at $1,505,000 after purchasing an additional 10,962 shares during 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 during 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 during 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 during 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 during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $134.25 on Friday. The company has a 50-day moving average of $139.76 and a 200-day moving average of $126.60. The company has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a PEG ratio of 2.52 and a beta of 1.63. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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 analysts’ consensus estimates 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 company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has initiated 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson lifted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Westpark Capital lifted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $101,672.00. Following the transaction, 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 a total of 1,628,156 shares of company stock valued at $197,995,077 in the last quarter. Insiders own 4.23% of the company’s stock.

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.