Shariaportfolio Inc. Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Shariaportfolio Inc. lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,577 shares of the computer hardware maker’s stock after selling 5,225 shares during the period. NVIDIA makes up about 2.4% of Shariaportfolio Inc.’s investment portfolio, making the stock its 9th biggest holding. Shariaportfolio Inc.’s holdings in NVIDIA were worth $4,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVDA. Ledyard National Bank increased its holdings in shares of NVIDIA by 10.3% in the third quarter. Ledyard National Bank now owns 26,627 shares of the computer hardware maker’s stock worth $3,234,000 after acquiring an additional 2,497 shares in the last quarter. Precision Wealth Strategies LLC grew its position in shares of NVIDIA by 87.4% in the 3rd quarter. Precision Wealth Strategies LLC now owns 50,316 shares of the computer hardware maker’s stock valued at $6,110,000 after purchasing an additional 23,460 shares during the period. Waterway Wealth Management LLC increased its stake in NVIDIA by 1.9% during the 3rd quarter. Waterway Wealth Management LLC now owns 29,908 shares of the computer hardware maker’s stock worth $3,632,000 after purchasing an additional 567 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in NVIDIA by 6.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 32,936 shares of the computer hardware maker’s stock worth $4,000,000 after buying an additional 1,967 shares during the period. Finally, Horst & Graben Wealth Management LLC lifted its stake in NVIDIA by 1.5% in the third quarter. Horst & Graben Wealth Management LLC now owns 34,969 shares of the computer hardware maker’s stock valued at $4,247,000 after buying an additional 502 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the sale, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. 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 a total of 2,036,986 shares of company stock valued at $240,602,399 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 1.2 %

Shares of NVDA stock opened at $135.34 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. The stock has a 50-day moving average of $135.61 and a 200-day moving average of $123.34.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current year.

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

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. Morgan Stanley raised their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Melius Research lifted 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. Mizuho upped their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company lifted their target price on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Benchmark upped their price target on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.