JGP Wealth Management LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

JGP Wealth Management LLC trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,911 shares of the computer hardware maker’s stock after selling 150 shares during the period. JGP Wealth Management LLC’s holdings in NVIDIA were worth $4,604,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 2nd quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the 2nd 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 during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the first quarter worth approximately $26,000. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVDA stock opened at $146.27 on Thursday. The stock’s 50 day simple moving average is $128.59 and its 200 day simple moving average is $119.33. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $149.77. The firm has a market cap of $3.59 trillion, a P/E ratio of 68.61, a P/E/G ratio of 1.56 and a beta of 1.66. 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 (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

Insider Activity

In related 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 value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 155,000 shares of the 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 of the company’s stock, valued at $1,071,402,475.59. 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, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. 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 ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Sanford C. Bernstein upped their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Mizuho upped their price target on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. DA Davidson reiterated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Finally, William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.48.

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.