Patten & Patten Inc. TN Sells 2,542 Shares of NVIDIA Co. (NASDAQ:NVDA)

Patten & Patten Inc. TN trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,669 shares of the computer hardware maker’s stock after selling 2,542 shares during the period. Patten & Patten Inc. TN’s holdings in NVIDIA were worth $4,210,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Lantz Financial LLC boosted its position in 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 buying an additional 36,774 shares during the last quarter. Hendley & Co. Inc. lifted its stake in shares of NVIDIA by 906.5% during the second quarter. Hendley & Co. Inc. now owns 15,500 shares of the computer hardware maker’s stock valued at $1,915,000 after acquiring an additional 13,960 shares during the period. Deltec Asset Management LLC boosted its holdings in NVIDIA by 893.0% in the second quarter. Deltec Asset Management LLC now owns 163,500 shares of the computer hardware maker’s stock valued at $20,199,000 after acquiring an additional 147,035 shares during the last quarter. ORG Partners LLC increased its position in NVIDIA by 9,245.5% in the second quarter. ORG Partners LLC now owns 82,240 shares of the computer hardware maker’s stock worth $10,214,000 after purchasing an additional 81,360 shares during the period. Finally, Bremer Bank National Association raised its holdings in NVIDIA by 755.5% during the 2nd quarter. Bremer Bank National Association now owns 206,061 shares of the computer hardware maker’s stock worth $25,457,000 after purchasing an additional 181,975 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.2 %

NVDA stock opened at $139.93 on Friday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.07, a P/E/G 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. The business has a 50 day moving average price of $139.99 and a two-hundred day moving average price of $127.80.

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

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on NVDA shares. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Piper Sandler increased their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred 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 owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,351,886 shares of company stock valued at $176,825,650. 4.23% of the stock is owned by insiders.

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.