Bridge Creek Capital Management LLC Sells 2,552 Shares of NVIDIA Co. (NASDAQ:NVDA)

Bridge Creek Capital Management LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,128 shares of the computer hardware maker’s stock after selling 2,552 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in NVIDIA were worth $3,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. Privium Fund Management UK Ltd bought a new position in NVIDIA during the first quarter worth about $2,635,000. First Trust Direct Indexing L.P. lifted its holdings in shares of NVIDIA by 20.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 62,865 shares of the computer hardware maker’s stock valued at $56,802,000 after purchasing an additional 10,478 shares in the last quarter. Accel Wealth Management grew its position in shares of NVIDIA by 16.8% in the 1st quarter. Accel Wealth Management now owns 2,776 shares of the computer hardware maker’s stock valued at $2,508,000 after purchasing an additional 399 shares during the period. RBA Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter worth approximately $293,000. Finally, Core Wealth Partners LLC boosted its holdings in shares of NVIDIA by 1.1% in the first quarter. Core Wealth Partners LLC now owns 1,906 shares of the computer hardware maker’s stock valued at $1,722,000 after buying an additional 21 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA 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 transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 0.8 %

NASDAQ NVDA opened at $147.63 on Friday. The business has a fifty day moving average price of $127.27 and a two-hundred day moving average price of $117.94. The stock has a market capitalization of $3.62 trillion, a PE ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted 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 firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. Equities analysts expect that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on NVDA shares. Westpark Capital increased their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI increased their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Truist Financial raised their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Finally, Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.07.

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.