Wilkinson Global Asset Management LLC Sells 80,040 Shares of NVIDIA Co. (NASDAQ:NVDA)

Wilkinson Global Asset Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597,480 shares of the computer hardware maker’s stock after selling 80,040 shares during the quarter. NVIDIA comprises about 4.4% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 9th largest position. Wilkinson Global Asset Management LLC’s holdings in NVIDIA were worth $72,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter valued at $27,000. CGC Financial Services LLC acquired a new stake in NVIDIA in the second quarter worth $26,000. Quest Partners LLC acquired a new stake in NVIDIA in the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter valued at $31,000. Finally, FPC Investment Advisory Inc. raised its holdings 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 period. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NVDA shares. Westpark Capital boosted their target price on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wedbush boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the sale, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,556,986 shares of company stock worth $201,687,727. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.1 %

Shares of NVDA stock opened at $134.70 on Friday. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89. The company’s fifty day simple moving average is $139.63 and its two-hundred day simple moving average is $127.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted 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. 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%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 1.57%.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding 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 board believes its stock is undervalued.

About NVIDIA

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.