Crescent Sterling Ltd. Has $764,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Crescent Sterling Ltd. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,295 shares of the computer hardware maker’s stock after selling 880 shares during the period. Crescent Sterling Ltd.’s holdings in NVIDIA were worth $764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on NVDA shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Westpark Capital lifted their target price on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wedbush restated 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, November 14th. Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $154.63.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.01 on Wednesday. The company has a market capitalization of $3.61 trillion, a P/E ratio of 69.02, a P/E/G 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. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a fifty day moving average of $132.42 and a 200-day moving average of $121.37.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.