Tradition Wealth Management LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Tradition Wealth Management LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,334 shares of the computer hardware maker’s stock after selling 2,956 shares during the period. NVIDIA accounts for 1.4% of Tradition Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Tradition Wealth Management LLC’s holdings in NVIDIA were worth $16,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of NVIDIA in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $131.76 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13. The business has a 50 day moving average price of $139.68 and a two-hundred day moving average price of $128.82. The firm has a market cap of $3.23 trillion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

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, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVDA shares. Barclays lifted 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. William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. UBS Group increased their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Four 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.27.

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.