Fiduciary Financial Group LLC Has $8.83 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Fiduciary Financial Group LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,437 shares of the computer hardware maker’s stock after selling 2,000 shares during the period. NVIDIA makes up 2.0% of Fiduciary Financial Group LLC’s investment portfolio, making the stock its 10th biggest holding. Fiduciary Financial Group LLC’s holdings in NVIDIA were worth $8,829,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the first quarter valued at about $30,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA during the first quarter valued at about $82,000. Finally, Slocum Gordon & Co LLP acquired a new position in shares of NVIDIA during the first quarter valued at about $98,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday. They set a “buy” rating and a $178.00 price target on the stock. Five equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $147.48.

NVIDIA Stock Down 1.4 %

Shares of NVDA stock opened at $146.27 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The firm’s fifty day moving average price is $128.59 and its two-hundred day moving average price is $119.33. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. On average, equities analysts predict that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated 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 sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.