Proficio Capital Partners LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Proficio Capital Partners LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 235,234 shares of the computer hardware maker’s stock after selling 28,998 shares during the period. NVIDIA comprises about 2.8% of Proficio Capital Partners LLC’s portfolio, making the stock its 8th largest holding. Proficio Capital Partners LLC’s holdings in NVIDIA were worth $28,567,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the second quarter valued at approximately $26,000. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the second quarter valued at $31,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after buying an additional 261 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,391,886 shares of company stock worth $181,666,050 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DA Davidson increased their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group boosted their price objective 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. Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Up 0.4 %

NVDA opened at $140.22 on Thursday. The business has a 50 day moving average of $139.84 and a 200-day moving average of $127.62. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its 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. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

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

NVIDIA Dividend Announcement

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a 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%.

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.