NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Decreased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,770 shares of the computer hardware maker’s stock after selling 7,042 shares during the period. NVIDIA accounts for approximately 1.5% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 6th biggest position. Legacy Wealth Asset Management LLC’s holdings in NVIDIA were worth $5,437,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NVDA. Pavion Blue Capital LLC lifted its holdings in shares of NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock worth $2,629,000 after buying an additional 80 shares in the last quarter. BayBridge Capital Group LLC lifted its stake in NVIDIA by 29.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 24,555 shares of the computer hardware maker’s stock worth $2,982,000 after purchasing an additional 5,636 shares in the last quarter. Massachusetts Wealth Management boosted its holdings in shares of NVIDIA by 28.4% during the 3rd quarter. Massachusetts Wealth Management now owns 22,087 shares of the computer hardware maker’s stock valued at $2,682,000 after purchasing an additional 4,885 shares during the last quarter. Mediolanum International Funds Ltd grew its position in shares of NVIDIA by 1.9% during the third quarter. Mediolanum International Funds Ltd now owns 3,547,195 shares of the computer hardware maker’s stock valued at $429,917,000 after purchasing an additional 65,836 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL increased its holdings in shares of NVIDIA by 2.8% in the third quarter. Strategic Investment Solutions Inc. IL now owns 15,948 shares of the computer hardware maker’s stock worth $1,937,000 after purchasing an additional 440 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on NVDA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Barclays lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 0.1 %

NASDAQ:NVDA opened at $145.06 on Friday. 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 cap of $3.55 trillion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.63. The company has a 50-day moving average of $137.74 and a 200 day moving average of $125.04. NVIDIA Co. has a 1-year low of $45.41 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. 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 dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock worth $214,418,399 over the last quarter. 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.