NVIDIA Co. (NASDAQ:NVDA) Stake Cut by Menard Financial Group LLC

Menard Financial Group LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 93,905 shares of the computer hardware maker’s stock after selling 701 shares during the period. NVIDIA accounts for approximately 7.5% of Menard Financial Group LLC’s portfolio, making the stock its 2nd largest position. Menard Financial Group LLC’s holdings in NVIDIA were worth $11,404,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVDA. Ironwood Wealth Management LLC. grew its position in NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. boosted its holdings in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after acquiring an additional 3,240 shares in the last quarter. Cohen Investment Advisors LLC boosted its holdings in shares of NVIDIA by 42.4% in the second quarter. Cohen Investment Advisors LLC now owns 480 shares of the computer hardware maker’s stock valued at $59,000 after acquiring an additional 143 shares in the last quarter. Callan Family Office LLC increased its stake in shares of NVIDIA by 4,836.7% during the second quarter. Callan Family Office LLC now owns 18,710 shares of the computer hardware maker’s stock worth $2,311,000 after acquiring an additional 18,331 shares during the period. Finally, Liontrust Investment Partners LLP raised its holdings in NVIDIA by 714.3% during the second quarter. Liontrust Investment Partners LLP now owns 962,430 shares of the computer hardware maker’s stock worth $118,899,000 after purchasing an additional 844,246 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 2.0 %

Shares of NASDAQ:NVDA opened at $133.57 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.27 trillion, a price-to-earnings ratio of 52.57, a PEG ratio of 2.45 and a beta of 1.64. The stock’s 50-day moving average price is $139.49 and its two-hundred day moving average price is $128.87. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend payout ratio is presently 1.57%.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, UBS Group raised their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

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.