Lodestone Wealth Management LLC Sells 2,059 Shares of NVIDIA Co. (NASDAQ:NVDA)

Lodestone Wealth Management LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,444 shares of the computer hardware maker’s stock after selling 2,059 shares during the period. NVIDIA makes up about 1.3% of Lodestone Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Lodestone Wealth Management LLC’s holdings in NVIDIA were worth $2,604,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NVDA. Lantz Financial LLC grew its position in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares during the period. CX Institutional raised its position in shares of NVIDIA by 936.9% during the 2nd quarter. CX Institutional now owns 150,085 shares of the computer hardware maker’s stock valued at $18,542,000 after purchasing an additional 135,610 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of NVIDIA by 865.8% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 4,182 shares of the computer hardware maker’s stock valued at $517,000 after buying an additional 3,749 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in NVIDIA by 1,018.4% in the 2nd quarter. Bourgeon Capital Management LLC now owns 36,795 shares of the computer hardware maker’s stock worth $4,546,000 after buying an additional 33,505 shares during the period. Finally, WBH Advisory Inc. increased its stake in NVIDIA by 887.1% in the 2nd quarter. WBH Advisory Inc. now owns 9,585 shares of the computer hardware maker’s stock worth $1,184,000 after buying an additional 8,614 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock valued at $197,995,077 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.7 %

Shares of NVIDIA stock opened at $132.00 on Tuesday. The firm’s 50 day moving average price is $139.84 and its 200-day moving average price is $126.92. The company has a market cap of $3.23 trillion, a P/E ratio of 51.95, a PEG ratio of 2.43 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 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVDA. Wedbush upped their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Finally, Westpark Capital boosted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.