NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Garrison Point Advisors LLC

Garrison Point Advisors LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,750 shares of the computer hardware maker’s stock after selling 3,340 shares during the quarter. NVIDIA accounts for 4.9% of Garrison Point Advisors LLC’s investment portfolio, making the stock its biggest holding. Garrison Point Advisors LLC’s holdings in NVIDIA were worth $7,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter worth $27,000. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth $27,000. Finally, CGC Financial Services LLC acquired a new position in shares of NVIDIA in the second quarter worth $26,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,796,986 shares of company stock valued at $214,418,399. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark upped their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $145.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 57.12, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. The business has a 50 day simple moving average of $137.32 and a 200 day simple moving average of $124.90. NVIDIA Co. has a 12-month low of $45.27 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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 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 yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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.