Spectrum Planning & Advisory Services Inc. Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Spectrum Planning & Advisory Services Inc. lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 16.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,044 shares of the computer hardware maker’s stock after selling 406 shares during the period. Spectrum Planning & Advisory Services Inc.’s holdings in NVIDIA were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. LGT Capital Partners LTD. raised its holdings in shares of NVIDIA by 35.3% during the 3rd quarter. LGT Capital Partners LTD. now owns 1,230,370 shares of the computer hardware maker’s stock worth $149,416,000 after acquiring an additional 321,270 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of NVIDIA by 5.6% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 128,212 shares of the computer hardware maker’s stock worth $15,570,000 after acquiring an additional 6,771 shares during the period. First City Capital Management Inc. raised its holdings in shares of NVIDIA by 2.6% during the 3rd quarter. First City Capital Management Inc. now owns 38,609 shares of the computer hardware maker’s stock worth $4,689,000 after acquiring an additional 981 shares during the period. Princeton Capital Management LLC raised its holdings in shares of NVIDIA by 5.7% during the 3rd quarter. Princeton Capital Management LLC now owns 438,591 shares of the computer hardware maker’s stock worth $53,262,000 after acquiring an additional 23,830 shares during the period. Finally, Equita Financial Network Inc. raised its holdings in shares of NVIDIA by 19.0% during the 3rd quarter. Equita Financial Network Inc. now owns 6,389 shares of the computer hardware maker’s stock worth $776,000 after acquiring an additional 1,019 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $144.47 on Monday. The business has a 50-day simple moving average of $139.57 and a 200-day simple moving average of $128.15. The company has a market cap of $3.54 trillion, a PE ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a one year low of $47.51 and a one year high of $152.89. 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 posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts forecast 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 was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling

In related 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 transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 over the last 90 days. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. William Blair assumed coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Barclays raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.