Patton Albertson Miller Group LLC Sells 27,681 Shares of NVIDIA Co. (NASDAQ:NVDA)

Patton Albertson Miller Group LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 297,270 shares of the computer hardware maker’s stock after selling 27,681 shares during the period. NVIDIA accounts for 4.9% of Patton Albertson Miller Group LLC’s holdings, making the stock its biggest holding. Patton Albertson Miller Group LLC’s holdings in NVIDIA were worth $36,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 3.0 %

Shares of NVDA stock opened at $135.91 on Friday. 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 firm has a market cap of $3.33 trillion, a P/E ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The business has a 50-day moving average price of $139.90 and a two-hundred day moving average price of $128.68. NVIDIA Co. has a 12-month low of $53.56 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for 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 business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVDA. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Barclays increased their price target on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Truist Financial boosted their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last three months. Company 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.