TriaGen Wealth Management LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

TriaGen Wealth Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 31.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,018 shares of the computer hardware maker’s stock after selling 30,345 shares during the quarter. NVIDIA accounts for 2.6% of TriaGen Wealth Management LLC’s portfolio, making the stock its 8th largest position. TriaGen Wealth Management LLC’s holdings in NVIDIA were worth $7,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% during 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 during the last quarter. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter worth approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the first quarter valued at approximately $27,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Redburn Atlantic began coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Barclays increased their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group increased their target price on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Westpark Capital raised their price objective on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

NASDAQ:NVDA opened at $141.95 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The business’s 50-day moving average is $134.01 and its 200 day moving average is $122.51.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

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

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’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 transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $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 have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by insiders.

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.