Keyes Stange & Wooten Wealth Management LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Keyes Stange & Wooten Wealth Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 25.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,306 shares of the computer hardware maker’s stock after selling 1,155 shares during the period. Keyes Stange & Wooten Wealth Management LLC’s holdings in NVIDIA were worth $402,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVDA. Waddell & Associates LLC raised its position in NVIDIA by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 23,827 shares of the computer hardware maker’s stock worth $2,894,000 after purchasing an additional 374 shares during the period. Nicolet Advisory Services LLC increased its position in shares of NVIDIA by 5.6% in the third quarter. Nicolet Advisory Services LLC now owns 88,378 shares of the computer hardware maker’s stock valued at $10,857,000 after acquiring an additional 4,715 shares during the period. GenTrust LLC increased its position in shares of NVIDIA by 9.4% in the third quarter. GenTrust LLC now owns 103,557 shares of the computer hardware maker’s stock valued at $12,642,000 after acquiring an additional 8,885 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its position in shares of NVIDIA by 14.6% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,071,000 shares of the computer hardware maker’s stock valued at $251,523,000 after acquiring an additional 264,000 shares during the period. Finally, Stonebrook Private Inc. increased its position in shares of NVIDIA by 13.3% in the third quarter. Stonebrook Private Inc. now owns 53,062 shares of the computer hardware maker’s stock valued at $6,444,000 after acquiring an additional 6,233 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVDA shares. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $140.11 on Thursday. The firm has a fifty day moving average price of $139.74 and a 200-day moving average price of $128.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market cap of $3.43 trillion, a PE ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 1 year low of $51.69 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. 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.