NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Red Mountain Financial LLC

Red Mountain Financial LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,113 shares of the computer hardware maker’s stock after selling 1,965 shares during the quarter. NVIDIA comprises about 3.2% of Red Mountain Financial LLC’s holdings, making the stock its 9th largest position. Red Mountain Financial LLC’s holdings in NVIDIA were worth $3,050,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC bought a new position in NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter worth $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 492,409 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 completion of the transaction, the insider now directly owns 492,409 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Mizuho increased their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday. They set a “buy” rating and a $178.00 target price on the stock. Finally, Citigroup raised their price objective on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.48.

NVIDIA Price Performance

NVDA opened at $146.27 on Thursday. The company has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 68.61, a PEG 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 firm has a 50-day moving average price of $128.59 and a 200-day moving average price of $119.33. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during 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 company’s revenue was up 122.4% on a year-over-year basis. During the same quarter 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 announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.