NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Sara Bay Financial

Sara Bay Financial reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,601 shares of the computer hardware maker’s stock after selling 3,549 shares during the quarter. NVIDIA accounts for 17.9% of Sara Bay Financial’s portfolio, making the stock its 2nd largest position. Sara Bay Financial’s holdings in NVIDIA were worth $43,427,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bank of New Hampshire lifted its position in NVIDIA by 3.5% during the 3rd quarter. Bank of New Hampshire now owns 52,484 shares of the computer hardware maker’s stock worth $6,374,000 after acquiring an additional 1,759 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its position in shares of NVIDIA by 8.9% during the third quarter. Hurlow Wealth Management Group Inc. now owns 2,848 shares of the computer hardware maker’s stock worth $346,000 after purchasing an additional 232 shares in the last quarter. IMZ Advisory Inc grew its holdings in NVIDIA by 1.6% during the 3rd quarter. IMZ Advisory Inc now owns 18,542 shares of the computer hardware maker’s stock valued at $2,316,000 after purchasing an additional 294 shares in the last quarter. Cypress Financial Planning LLC increased its stake in NVIDIA by 5.9% during the 3rd quarter. Cypress Financial Planning LLC now owns 2,570 shares of the computer hardware maker’s stock worth $312,000 after buying an additional 144 shares during the period. Finally, Sterling Group Wealth Management LLC lifted its holdings in NVIDIA by 31.4% in the 3rd quarter. Sterling Group Wealth Management LLC now owns 3,353 shares of the computer hardware maker’s stock worth $407,000 after buying an additional 802 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Evercore ISI increased their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Mizuho upped their target price on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $143.07.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.2 %

Shares of NVDA stock opened at $148.88 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $126.08 and a 200 day simple moving average of $117.25. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $148.93. The stock has a market capitalization of $3.65 trillion, a P/E ratio of 69.90, a P/E/G ratio of 1.43 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, sell-side analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.