Marion Wealth Management Has $3.02 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Marion Wealth Management cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,880 shares of the computer hardware maker’s stock after selling 1,839 shares during the quarter. Marion Wealth Management’s holdings in NVIDIA were worth $3,021,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter worth approximately $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA in the 1st quarter valued at $30,000. TCTC Holdings LLC acquired a new stake in shares of NVIDIA during the first quarter worth $82,000. Finally, Slocum Gordon & Co LLP acquired a new position in NVIDIA in the first quarter valued at $98,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $147.63 on Friday. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. 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 50-day moving average price of $127.27 and a 200-day moving average price of $117.94. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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 firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Equities analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA declared that its board has initiated a stock buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Craig Hallum raised their target price on NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Bank of America raised their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday, August 26th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $143.07.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the business’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 sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

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.