Proffitt & Goodson Inc. Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Proffitt & Goodson Inc. reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,389 shares of the computer hardware maker’s stock after selling 883 shares during the quarter. NVIDIA comprises approximately 0.4% of Proffitt & Goodson Inc.’s investment portfolio, making the stock its 29th biggest holding. Proffitt & Goodson Inc.’s holdings in NVIDIA were worth $2,597,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Hoertkorn Richard Charles increased its stake in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares in the last quarter. Smart Portfolios LLC raised its holdings in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares during the last quarter. Total Wealth Planning LLC boosted its stake in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of NVIDIA by 0.3% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares in the last quarter. Finally, Pavion Blue Capital LLC lifted its holdings in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after purchasing an additional 80 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NVDA shares. Phillip Securities restated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Raymond James increased their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. 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 report on Thursday, November 21st. Finally, Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Four investment 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, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

NVDA stock opened at $139.93 on Friday. The business has a 50 day moving average price of $139.99 and a 200 day moving average price of $127.80. 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 stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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 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%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’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 transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the sale, the director now owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,351,886 shares of company stock worth $176,825,650. Insiders own 4.23% of the company’s stock.

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.