RKL Wealth Management LLC Sells 4,225 Shares of NVIDIA Co. (NASDAQ:NVDA)

RKL Wealth Management LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,915 shares of the computer hardware maker’s stock after selling 4,225 shares during the quarter. NVIDIA accounts for 1.6% of RKL Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. RKL Wealth Management LLC’s holdings in NVIDIA were worth $17,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Legal & General Group Plc boosted its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its position in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $140.22 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a fifty day moving average of $139.84 and a 200-day moving average of $127.62. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.18, a P/E/G ratio of 2.43 and a beta of 1.64.

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

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value 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. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,391,886 shares of company stock worth $181,666,050. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. Sanford C. Bernstein increased their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James increased their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.