Linscomb Wealth Inc. Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Linscomb Wealth Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,510 shares of the computer hardware maker’s stock after selling 77 shares during the period. Linscomb Wealth Inc.’s holdings in NVIDIA were worth $1,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Valley Wealth Managers Inc. increased its stake in shares of NVIDIA by 34.3% during the third quarter. Valley Wealth Managers Inc. now owns 25,477 shares of the computer hardware maker’s stock valued at $3,094,000 after purchasing an additional 6,510 shares in the last quarter. Empirical Finance LLC increased its position in shares of NVIDIA by 1.8% during the third quarter. Empirical Finance LLC now owns 876,401 shares of the computer hardware maker’s stock valued at $106,430,000 after acquiring an additional 15,682 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its position in shares of NVIDIA by 6.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 85,844 shares of the computer hardware maker’s stock valued at $10,425,000 after buying an additional 5,028 shares during the last quarter. BluePointe Capital Management LLC lifted its position in NVIDIA by 17.1% during the third quarter. BluePointe Capital Management LLC now owns 25,809 shares of the computer hardware maker’s stock valued at $3,134,000 after purchasing an additional 3,762 shares during the period. Finally, Black Diamond Financial LLC grew its holdings in shares of NVIDIA by 64.3% in the third quarter. Black Diamond Financial LLC now owns 17,809 shares of the computer hardware maker’s stock worth $2,163,000 after acquiring an additional 6,969 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,351,886 shares of company stock worth $176,825,650. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Wells Fargo & Company increased their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. TD Cowen boosted their price target on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Redburn Atlantic began coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Finally, Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $134.29 on Wednesday. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89. The firm has a market cap of $3.29 trillion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm’s 50 day simple moving average is $139.66 and its 200-day simple moving average is $128.04. 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 issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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.