Lake Hills Wealth Management LLC Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Lake Hills Wealth Management LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 40.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,165 shares of the computer hardware maker’s stock after selling 6,865 shares during the period. Lake Hills Wealth Management LLC’s holdings in NVIDIA were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunflower Bank N.A. lifted its stake in NVIDIA by 6.2% in the 3rd quarter. Sunflower Bank N.A. now owns 18,820 shares of the computer hardware maker’s stock valued at $2,286,000 after buying an additional 1,097 shares in the last quarter. Stonekeep Investments LLC lifted its position in shares of NVIDIA by 1.1% in the third quarter. Stonekeep Investments LLC now owns 19,494 shares of the computer hardware maker’s stock valued at $2,367,000 after acquiring an additional 213 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of NVIDIA by 7.4% during the third quarter. Sound Income Strategies LLC now owns 40,188 shares of the computer hardware maker’s stock valued at $4,880,000 after acquiring an additional 2,783 shares during the last quarter. CVA Family Office LLC increased its position in NVIDIA by 2.2% during the 3rd quarter. CVA Family Office LLC now owns 53,986 shares of the computer hardware maker’s stock worth $6,556,000 after purchasing an additional 1,160 shares in the last quarter. Finally, JBR Co Financial Management Inc raised its stake in NVIDIA by 1.6% in the 3rd quarter. JBR Co Financial Management Inc now owns 197,534 shares of the computer hardware maker’s stock valued at $23,988,000 after purchasing an additional 3,180 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVIDIA stock opened at $141.98 on Friday. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $149.77. 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 $3.48 trillion, a P/E ratio of 66.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The stock has a 50 day moving average of $130.18 and a 200-day moving average of $119.70.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NVDA. Citigroup lifted their price target on shares of NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Morgan Stanley increased their price target on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Evercore ISI increased their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five equities research 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 company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.40.

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.