NVIDIA Co. (NASDAQ:NVDA) Stake Decreased by Successful Portfolios LLC

Successful Portfolios LLC lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,387 shares of the computer hardware maker’s stock after selling 305 shares during the quarter. NVIDIA accounts for 5.2% of Successful Portfolios LLC’s portfolio, making the stock its 2nd biggest holding. Successful Portfolios LLC’s holdings in NVIDIA were worth $7,698,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA in the first quarter worth about $30,000. TCTC Holdings LLC purchased a new stake in NVIDIA during the 1st quarter worth approximately $82,000. Finally, Slocum Gordon & Co LLP purchased a new position in NVIDIA in the 1st quarter worth $98,000. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. 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 the SEC website. In other news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Needham & Company LLC lifted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday. They set a “buy” rating and a $178.00 target price for the company. Bank of America boosted their price target on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Melius Research lifted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $147.00.

NVIDIA Stock Up 2.1 %

Shares of NASDAQ:NVDA opened at $148.29 on Wednesday. The company has a market capitalization of $3.64 trillion, a P/E ratio of 69.62, a P/E/G ratio of 1.56 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 stock’s fifty day simple moving average is $127.79 and its 200-day simple moving average is $118.90. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

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