Braun Bostich & Associates Inc. Sells 681 Shares of NVIDIA Co. (NASDAQ:NVDA)

Braun Bostich & Associates Inc. cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,313 shares of the computer hardware maker’s stock after selling 681 shares during the period. Braun Bostich & Associates Inc.’s holdings in NVIDIA were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position 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 worth $34,597,000 after acquiring an additional 13,135 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of NVIDIA by 35.2% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 165 shares of the computer hardware maker’s stock valued at $149,000 after purchasing an additional 43 shares during the period. Advisory Alpha LLC lifted its stake in NVIDIA by 21.1% in the 1st quarter. Advisory Alpha LLC now owns 8,710 shares of the computer hardware maker’s stock valued at $7,871,000 after purchasing an additional 1,520 shares during the last quarter. Mittelman Wealth Management bought a new position in NVIDIA during the first quarter worth about $492,000. Finally, Manchester Capital Management LLC increased its position in NVIDIA by 19.0% during the first quarter. Manchester Capital Management LLC now owns 10,094 shares of the computer hardware maker’s stock worth $9,120,000 after buying an additional 1,610 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, HSBC upped their target price on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.63.

Insider Activity at NVIDIA

In other 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 transaction 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 represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 4.9 %

Shares of NASDAQ NVDA opened at $147.01 on Wednesday. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $132.42 and its 200-day simple moving average is $121.37. The firm has a market cap of $3.61 trillion, a price-to-earnings ratio of 69.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

NVIDIA Company 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.