Heritage Wealth Partners LLC Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Heritage Wealth Partners LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,700 shares of the computer hardware maker’s stock after selling 622 shares during the period. NVIDIA accounts for approximately 4.8% of Heritage Wealth Partners LLC’s holdings, making the stock its 5th biggest position. Heritage Wealth Partners LLC’s holdings in NVIDIA were worth $4,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. China Universal Asset Management Co. Ltd. boosted its stake in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the period. SWS Partners boosted its stake in shares of NVIDIA by 11.6% during the first quarter. SWS Partners now owns 5,968 shares of the computer hardware maker’s stock valued at $5,393,000 after purchasing an additional 620 shares during the period. Norden Group LLC boosted its stake in shares of NVIDIA by 23.0% during the first quarter. Norden Group LLC now owns 10,738 shares of the computer hardware maker’s stock valued at $9,703,000 after purchasing an additional 2,005 shares during the period. Longbow Finance SA boosted its stake in shares of NVIDIA by 12.9% during the first quarter. Longbow Finance SA now owns 62,444 shares of the computer hardware maker’s stock valued at $56,422,000 after purchasing an additional 7,158 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of NVIDIA by 6.7% during the first quarter. J.W. Cole Advisors Inc. now owns 33,089 shares of the computer hardware maker’s stock valued at $29,900,000 after purchasing an additional 2,070 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This 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 this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 1.6 %

NASDAQ NVDA opened at $145.26 on Tuesday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year 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. The company has a market capitalization of $3.56 trillion, a PE ratio of 68.20, a P/E/G ratio of 1.56 and a beta of 1.66. The company has a fifty day moving average of $127.27 and a 200 day moving average of $118.46.

NVIDIA (NASDAQ:NVDA) last issued 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 for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue 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. Research analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed 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 was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, August 6th. Raymond James boosted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

NVIDIA Company 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.