NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Stage Harbor Financial LLC

Stage Harbor Financial LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,920 shares of the computer hardware maker’s stock after selling 395 shares during the quarter. NVIDIA comprises about 0.9% of Stage Harbor Financial LLC’s portfolio, making the stock its 17th largest position. Stage Harbor Financial LLC’s holdings in NVIDIA were worth $1,068,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 purchasing an additional 13,135 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its position in NVIDIA by 35.2% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 165 shares of the computer hardware maker’s stock worth $149,000 after purchasing an additional 43 shares during the period. Advisory Alpha LLC raised its stake in shares of NVIDIA by 21.1% during the 1st quarter. Advisory Alpha LLC now owns 8,710 shares of the computer hardware maker’s stock valued at $7,871,000 after buying an additional 1,520 shares during the last quarter. Mittelman Wealth Management acquired a new position in shares of NVIDIA in the 1st quarter valued at about $492,000. Finally, Manchester Capital Management LLC boosted its stake in shares of NVIDIA by 19.0% in 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. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research report on Monday, August 5th. Oppenheimer lifted their target price on shares of NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Susquehanna increased their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Five 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.63.

Insider Activity

In other news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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. In the last three months, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 4.9 %

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

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for 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 company’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has initiated a share buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.