Hohimer Wealth Management LLC Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hohimer Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,986 shares of the computer hardware maker’s stock after selling 5,714 shares during the period. NVIDIA makes up approximately 1.1% of Hohimer Wealth Management LLC’s holdings, making the stock its 17th biggest position. Hohimer Wealth Management LLC’s holdings in NVIDIA were worth $5,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rehmann Capital Advisory Group lifted its stake in shares of NVIDIA by 4.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 119,564 shares of the computer hardware maker’s stock worth $14,537,000 after purchasing an additional 5,568 shares during the period. Main Line Retirement Advisors LLC boosted its holdings in NVIDIA by 17.9% in the 3rd quarter. Main Line Retirement Advisors LLC now owns 5,341 shares of the computer hardware maker’s stock worth $649,000 after buying an additional 810 shares during the period. Hobbs Group Advisors LLC grew its position in shares of NVIDIA by 8.9% during the third quarter. Hobbs Group Advisors LLC now owns 11,034 shares of the computer hardware maker’s stock worth $1,340,000 after purchasing an additional 902 shares in the last quarter. Fortem Financial Group LLC boosted its stake in NVIDIA by 3.6% in the 3rd quarter. Fortem Financial Group LLC now owns 80,974 shares of the computer hardware maker’s stock worth $9,833,000 after purchasing an additional 2,799 shares during the period. Finally, Arete Wealth Advisors LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $23,514,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVDA shares. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Stifel Nicolaus raised their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Redburn Atlantic started coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.63.

NVIDIA Stock Performance

Shares of NVDA stock opened at $140.83 on Wednesday. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. The company has a 50 day moving average price of $138.84 and a 200 day moving average price of $129.11. NVIDIA Co. has a one year low of $58.58 and a one year high of $153.13. 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 released its quarterly earnings data 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 company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s 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 completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % 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 worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA 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.