Perigon Wealth Management LLC Has $206.36 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Perigon Wealth Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,699,266 shares of the computer hardware maker’s stock after selling 141,246 shares during the period. NVIDIA comprises approximately 5.5% of Perigon Wealth Management LLC’s holdings, making the stock its 2nd largest position. Perigon Wealth Management LLC’s holdings in NVIDIA were worth $206,359,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new stake in NVIDIA in the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in NVIDIA during the first quarter worth about $82,000. Delos Wealth Advisors LLC boosted its position in NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after acquiring an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth about $25,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVDA. Piper Sandler upped 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. Barclays upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial increased their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.82.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $146.71 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The firm has a fifty day moving average price of $133.55 and a two-hundred day moving average price of $121.72. The company has a market cap of $3.60 trillion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. Analysts expect that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign 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.