Sollinda Capital Management LLC Sells 165 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sollinda Capital Management LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,552 shares of the computer hardware maker’s stock after selling 165 shares during the period. Sollinda Capital Management LLC’s holdings in NVIDIA were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVDA. Lantz Financial LLC lifted its stake in shares of NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the last quarter. Simplicity Wealth LLC grew its position in NVIDIA by 849.7% in the 2nd quarter. Simplicity Wealth LLC now owns 679,698 shares of the computer hardware maker’s stock valued at $83,970,000 after acquiring an additional 608,125 shares during the last quarter. Gill Capital Partners LLC increased its stake in NVIDIA by 948.8% in the second quarter. Gill Capital Partners LLC now owns 18,061 shares of the computer hardware maker’s stock worth $2,231,000 after purchasing an additional 16,339 shares during the period. Founders Capital Management lifted its position in shares of NVIDIA by 1,226.9% during the second quarter. Founders Capital Management now owns 690 shares of the computer hardware maker’s stock worth $85,000 after purchasing an additional 638 shares during the last quarter. Finally, Selective Wealth Management Inc. boosted its stake in shares of NVIDIA by 974.3% during the second quarter. Selective Wealth Management Inc. now owns 9,604 shares of the computer hardware maker’s stock valued at $1,262,000 after purchasing an additional 8,710 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird upped their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 2.2 %

Shares of NVDA stock opened at $134.25 on Monday. The stock has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.52 and a beta of 1.63. 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 fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm’s 50 day moving average price is $139.76 and its two-hundred day moving average price is $126.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Dividend Announcement

The business 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. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction 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. This trade represents a 0.91 % 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 worth $197,995,077 in the last 90 days. Corporate 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.