NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Costello Asset Management INC

Costello Asset Management INC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 46.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,310 shares of the computer hardware maker’s stock after selling 8,894 shares during the quarter. Costello Asset Management INC’s holdings in NVIDIA were worth $1,252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Lantz Financial LLC increased its holdings 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 in the last quarter. James Hambro & Partners lifted its holdings in NVIDIA by 657.7% in the 2nd quarter. James Hambro & Partners now owns 6,880 shares of the computer hardware maker’s stock valued at $849,000 after purchasing an additional 5,972 shares in the last quarter. Border to Coast Pensions Partnership Ltd raised its holdings in NVIDIA by 723.0% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 2,331,118 shares of the computer hardware maker’s stock valued at $288,077,000 after acquiring an additional 2,047,881 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in NVIDIA by 714.4% in the 2nd quarter. SJS Investment Consulting Inc. now owns 49,980 shares of the computer hardware maker’s stock worth $6,175,000 after buying an additional 43,843 shares during the last quarter. Finally, Consolidated Capital Management LLC increased its position in NVIDIA by 972.3% during the second quarter. Consolidated Capital Management LLC now owns 94,298 shares of the computer hardware maker’s stock worth $11,650,000 after purchasing an additional 85,504 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated 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 sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Sanford C. Bernstein upped their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group lifted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Four equities research 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 0.4 %

Shares of NVIDIA stock opened at $140.22 on Thursday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The stock’s fifty day moving average is $139.84 and its 200-day moving average is $127.62. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. 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 (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a 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.