Financial Strategies Group Inc. Sells 937 Shares of NVIDIA Co. (NASDAQ:NVDA)

Financial Strategies Group Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 23.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,095 shares of the computer hardware maker’s stock after selling 937 shares during the period. Financial Strategies Group Inc.’s holdings in NVIDIA were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NVDA. Lantz Financial LLC boosted its stake 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 worth $5,088,000 after purchasing an additional 36,774 shares during the period. Vigilare Wealth Management boosted its holdings in NVIDIA by 924.1% during the 2nd quarter. Vigilare Wealth Management now owns 11,705 shares of the computer hardware maker’s stock valued at $1,446,000 after acquiring an additional 10,562 shares during the period. Bridge Creek Capital Management LLC lifted its position in shares of NVIDIA by 821.9% during the second quarter. Bridge Creek Capital Management LLC now owns 30,680 shares of the computer hardware maker’s stock worth $3,790,000 after purchasing an additional 27,352 shares during the last quarter. Delta Financial Group Inc. boosted its stake in shares of NVIDIA by 954.6% during the second quarter. Delta Financial Group Inc. now owns 40,043 shares of the computer hardware maker’s stock valued at $4,947,000 after purchasing an additional 36,246 shares during the period. Finally, PFG Private Wealth Management LLC grew its holdings in shares of NVIDIA by 872.4% in the second quarter. PFG Private Wealth Management LLC now owns 8,421 shares of the computer hardware maker’s stock worth $1,040,000 after purchasing an additional 7,555 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ:NVDA opened at $134.70 on Monday. The company 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. The company has a 50-day moving average of $139.63 and a 200-day moving average of $127.32. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. 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 announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the stock in a transaction that occurred 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 sale, the director now owns 8,420,117 shares in the company, 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. Insiders have sold a total of 1,556,986 shares of company stock worth $201,687,727 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial raised their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. DA Davidson lifted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their target price on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.