StoneCrest Wealth Management Inc. Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

StoneCrest Wealth Management Inc. lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,669 shares of the computer hardware maker’s stock after selling 396 shares during the period. NVIDIA makes up about 7.5% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 2nd biggest position. StoneCrest Wealth Management Inc.’s holdings in NVIDIA were worth $10,282,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA 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 transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, 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 quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Robert W. Baird upped their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $147.63 on Friday. The firm’s 50-day moving average price is $127.27 and its 200-day moving average price is $117.94. 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 company has a market cap 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 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm 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 quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed 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%.

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.