Lakeside Advisors INC. Sells 1,800 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lakeside Advisors INC. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the computer hardware maker’s stock after selling 1,800 shares during the quarter. NVIDIA accounts for approximately 1.5% of Lakeside Advisors INC.’s portfolio, making the stock its 15th largest position. Lakeside Advisors INC.’s holdings in NVIDIA were worth $2,307,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVDA. Chicago Partners Investment Group LLC increased its holdings in NVIDIA by 32.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 505,547 shares of the computer hardware maker’s stock worth $61,394,000 after purchasing an additional 125,210 shares in the last quarter. Creative Capital Management Investments LLC lifted its stake in NVIDIA by 7.7% during the 3rd quarter. Creative Capital Management Investments LLC now owns 16,972 shares of the computer hardware maker’s stock valued at $2,061,000 after acquiring an additional 1,212 shares in the last quarter. Phillips Wealth Planners LLC boosted its holdings in NVIDIA by 4.3% during the 3rd quarter. Phillips Wealth Planners LLC now owns 2,505 shares of the computer hardware maker’s stock worth $304,000 after acquiring an additional 104 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of NVIDIA by 12.2% in the third quarter. Farther Finance Advisors LLC now owns 851,185 shares of the computer hardware maker’s stock valued at $103,368,000 after purchasing an additional 92,697 shares during the last quarter. Finally, Dash Acquisitions Inc. lifted its position in shares of NVIDIA by 3.8% during the third quarter. Dash Acquisitions Inc. now owns 11,792 shares of the computer hardware maker’s stock valued at $1,432,000 after purchasing an additional 431 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Westpark Capital upped their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Trading Down 2.2 %

NVIDIA stock opened at $134.25 on Friday. The stock has a market cap 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 fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm’s fifty day moving average price is $139.76 and its 200-day moving average price is $126.69. 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 released its quarterly earnings results 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 firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The company’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date 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 has authorized a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % 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. Corporate 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.