MorganRosel Wealth Management LLC Sells 1,530 Shares of NVIDIA Co. (NASDAQ:NVDA)

MorganRosel Wealth Management LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,640 shares of the computer hardware maker’s stock after selling 1,530 shares during the period. MorganRosel Wealth Management LLC’s holdings in NVIDIA were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares during the last quarter. Crown Wealth Group LLC increased its holdings in shares of NVIDIA by 28.7% during the first quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock valued at $3,240,000 after acquiring an additional 800 shares in the last quarter. Harbor Advisors LLC increased its holdings in shares of NVIDIA by 3.4% during the first quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock valued at $16,264,000 after acquiring an additional 600 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in shares of NVIDIA in the 1st quarter worth about $201,000. Finally, Better Money Decisions LLC boosted its stake in NVIDIA by 4.8% in the 1st quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock worth $657,000 after purchasing an additional 33 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % 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. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVDA shares. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wedbush reissued an “outperform” rating and set a $160.00 price target (up previously from $138.00) on shares of NVIDIA in a research report on Thursday. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Price Performance

NASDAQ:NVDA opened at $146.76 on Friday. The business’s 50-day simple moving average is $129.39 and its two-hundred day simple moving average is $119.51. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. The stock has a market cap of $3.60 trillion, a PE ratio of 68.84, 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.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter 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, analysts forecast that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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