Sheets Smith Wealth Management Sells 5,874 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sheets Smith Wealth Management lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,080 shares of the computer hardware maker’s stock after selling 5,874 shares during the quarter. NVIDIA makes up approximately 1.2% of Sheets Smith Wealth Management’s portfolio, making the stock its 17th largest holding. Sheets Smith Wealth Management’s holdings in NVIDIA were worth $10,211,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Lantz Financial LLC raised its stake in shares of NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the period. James Hambro & Partners increased 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 worth $849,000 after acquiring an additional 5,972 shares during the last quarter. Border to Coast Pensions Partnership Ltd raised its stake 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 period. SJS Investment Consulting Inc. lifted its holdings in NVIDIA by 714.4% during the second quarter. SJS Investment Consulting Inc. now owns 49,980 shares of the computer hardware maker’s stock valued at $6,175,000 after purchasing an additional 43,843 shares during the last quarter. Finally, Consolidated Capital Management LLC boosted 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 period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock valued at $181,666,050 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $140.22 on Thursday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.18, a PEG ratio of 2.43 and a beta of 1.64. The stock’s 50 day simple moving average is $139.84 and its two-hundred day simple moving average is $127.62. 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 released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. TD Cowen boosted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. The Goldman Sachs Group increased their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company increased their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.