NVIDIA Co. (NASDAQ:NVDA) is InTrack Investment Management Inc’s 5th Largest Position

InTrack Investment Management Inc trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,883 shares of the computer hardware maker’s stock after selling 2,819 shares during the quarter. NVIDIA accounts for approximately 2.3% of InTrack Investment Management Inc’s investment portfolio, making the stock its 5th biggest holding. InTrack Investment Management Inc’s holdings in NVIDIA were worth $3,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Montis Financial LLC lifted its holdings in NVIDIA by 6.2% in the third quarter. Montis Financial LLC now owns 6,502 shares of the computer hardware maker’s stock valued at $790,000 after acquiring an additional 377 shares during the period. Brown Miller Wealth Management LLC increased its holdings in shares of NVIDIA by 0.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 282,662 shares of the computer hardware maker’s stock valued at $34,326,000 after purchasing an additional 1,114 shares in the last quarter. CRA Financial Services LLC lifted its stake in shares of NVIDIA by 8.3% in the 3rd quarter. CRA Financial Services LLC now owns 110,571 shares of the computer hardware maker’s stock valued at $13,428,000 after purchasing an additional 8,506 shares during the period. HCR Wealth Advisors boosted its holdings in NVIDIA by 9.3% during the third quarter. HCR Wealth Advisors now owns 264,764 shares of the computer hardware maker’s stock worth $32,153,000 after buying an additional 22,612 shares in the last quarter. Finally, Avondale Wealth Management grew its position in NVIDIA by 1.6% during the third quarter. Avondale Wealth Management now owns 20,205 shares of the computer hardware maker’s stock valued at $2,454,000 after buying an additional 325 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Sanford C. Bernstein increased their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Finally, Mizuho boosted their price target on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.40.

NVIDIA Stock Performance

NASDAQ NVDA opened at $146.76 on Friday. The stock has a fifty day simple moving average of $129.39 and a 200-day simple moving average of $119.51. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. 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. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced 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 company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s 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.