NVIDIA Co. (NASDAQ:NVDA) Stock Position Trimmed by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,702 shares of the computer hardware maker’s stock after selling 901 shares during the period. Affinity Capital Advisors LLC’s holdings in NVIDIA were worth $814,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Ignite Planners LLC increased its position in shares of NVIDIA by 1.3% in the third quarter. Ignite Planners LLC now owns 101,791 shares of the computer hardware maker’s stock worth $12,362,000 after acquiring an additional 1,292 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of NVIDIA by 1.5% during the third quarter. Versant Capital Management Inc now owns 19,053 shares of the computer hardware maker’s stock worth $2,314,000 after purchasing an additional 285 shares during the period. Bath Savings Trust Co lifted its stake in NVIDIA by 5.0% in the third quarter. Bath Savings Trust Co now owns 86,517 shares of the computer hardware maker’s stock valued at $10,507,000 after acquiring an additional 4,108 shares during the last quarter. Stonebridge Capital Management Inc. lifted its stake in NVIDIA by 0.3% in the third quarter. Stonebridge Capital Management Inc. now owns 45,510 shares of the computer hardware maker’s stock valued at $5,527,000 after acquiring an additional 140 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. lifted its stake in NVIDIA by 79.8% in the third quarter. Verde Servicos Internacionais S.A. now owns 150,887 shares of the computer hardware maker’s stock valued at $18,324,000 after acquiring an additional 66,958 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Raymond James upped their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Bank of America upped their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, HSBC upped their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Up 2.2 %

Shares of NASDAQ:NVDA opened at $148.88 on Friday. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $148.93. The company’s 50-day moving average price is $126.08 and its two-hundred day moving average price is $117.25. 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 firm has a market cap 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 issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. As a group, research analysts forecast that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by 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.