NVIDIA Co. (NASDAQ:NVDA) is Marietta Wealth Management LLC’s 3rd Largest Position

Marietta Wealth Management LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,912 shares of the computer hardware maker’s stock after selling 6,361 shares during the period. NVIDIA makes up 3.2% of Marietta Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Marietta Wealth Management LLC’s holdings in NVIDIA were worth $22,091,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NVDA. Hamilton Wealth LLC increased its position in shares of NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares during the period. FSA Wealth Management LLC increased its position in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after acquiring an additional 14 shares during the period. Clean Yield Group increased its position in shares of NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after acquiring an additional 15 shares during the period. Earnest Partners LLC increased its position in shares of NVIDIA by 1.5% in the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after acquiring an additional 17 shares during the period. Finally, Aspect Partners LLC increased its position in shares of NVIDIA by 5.6% in the first quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock valued at $289,000 after acquiring an additional 17 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird boosted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. UBS Group boosted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

NVIDIA stock opened at $138.25 on Friday. The firm has a 50-day moving average price of $136.05 and a 200-day moving average price of $123.90. The firm has a market capitalization of $3.39 trillion, a PE ratio of 54.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. Company insiders own 4.23% of the company’s stock.

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.