Long Run Wealth Advisors LLC Sells 6,409 Shares of NVIDIA Co. (NASDAQ:NVDA)

Long Run Wealth Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,685 shares of the computer hardware maker’s stock after selling 6,409 shares during the period. NVIDIA accounts for approximately 2.2% of Long Run Wealth Advisors LLC’s holdings, making the stock its 13th largest holding. Long Run Wealth Advisors LLC’s holdings in NVIDIA were worth $9,191,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVDA. CGC Financial Services LLC acquired a new position in NVIDIA during the 2nd quarter worth about $26,000. Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the second quarter worth approximately $31,000. Finally, FPC Investment Advisory Inc. grew its stake in shares of NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 165,100 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,556,986 shares of company stock worth $201,687,727. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. HSBC lifted their target price on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wedbush upped their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Craig Hallum lifted their price objective on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Citigroup upped their target price on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 1.4 %

Shares of NVIDIA stock opened at $130.68 on Friday. The firm has a market cap of $3.20 trillion, a PE ratio of 51.43, a P/E/G ratio of 2.43 and a beta of 1.63. The business’s 50 day simple moving average is $139.63 and its 200 day simple moving average is $127.11. 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 Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

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

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.